Shrinkflation 'Persists'... 33 Products Reduce Volume and 'Raise Prices'

Contents Reduced by Up to 27.3%

As so-called 'shrinkflation,' where product quantities are reduced while prices are increased, has emerged as a social issue, it was found that the quantities of 33 products decreased and prices increased during the first quarter of this year.

The Korea Consumer Agency announced on the 13th that this was confirmed through continuous monitoring of price survey data (158 items, 540 products) managed by Chamgagyeok until March this year and products reported to the Shrinkflation Reporting Center.

The timing of quantity changes was 16 products (48.5%) last year and 17 products this year. By domestic and foreign classification, 15 products (25.5%) were domestically manufactured, and 18 products (54.5%) were imported. By category, 32 products (97.0%) were processed foods, and 1 product (3.0%) was a household item (detergent).

The photo is not related to the article content. Photo by Jinhyung Kang aymsdream@

The content quantity of these products decreased by a minimum of 5.3% and a maximum of 27.3%, with 13 products (39.4%) decreasing by 'less than 10%', and 10 products (30.4%) each decreasing by '10% or more but less than 20%' and '20% or more.'

The Consumer Agency announced the information on products with quantity changes confirmed through monitoring on the Chamgagyeok website and recommended manufacturers and importers to provide this information on their company websites or shopping malls.

Earlier, as social interest in shrinkflation increased, the Consumer Agency signed a voluntary agreement in December last year with eight major distributors (department stores, large supermarkets, online malls, etc.) and has been receiving and analyzing product information distributed quarterly since this year.

A representative of the Consumer Agency stated, "We plan to support consumers in making rational purchases based on accurate price information by collecting and investigating information on products with reduced quantities throughout the year and providing product information confirmed through monitoring results quarterly."

If consumers find products with changed quantities during the purchasing process, they can directly submit the relevant information to the 'Shrinkflation Reporting Center' on the Consumer Agency's website.

This content was produced with the assistance of AI translation services.