Shrinkflation and beyond: the words we need to call out dodgy economics

If you want to feel like Gulliver, walk a supermarket aisle. Staple things like jam or cereal are shrinking on the shelf. Not in number but size, like a value pack box of Weet-Bix shedding almost 80 grams in a year. Or a family block of chocolate dwindling from 250 to 200 and now 180 grams, all the while keeping its shape and purple lustre.

Corners are cut, in other words. Beds aren’t remade in hotel rooms unless requested. Towels aren’t replaced under the rhetoric of environmentalism. Helplines are outsourced, or automated. Those same shrinkflation supermarkets are offering self-checkout lanes by way of skimpflation – same price, poorer service.

As a field, economics has long been fertile ground for new words, from glass ceiling to recessionista, from credit crunch to vulture fund. Cryptocurrency alone has been its own weird turbine, generating altcoin, or memecoin, to identify the digital dollars that fill your flash drive, alias a cold wallet.Blockchain may be tricky for lexicographers to define , yet you must admire its crisp appeal as a piece of language.

Source: News Formal (newsformal.com)

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