'Shrinkflation' on the rise as companies try to offset rising costs

While prices continue to rise amidst massive inflation, the amount of product you're getting is trending the other direction. It's called shrinkflation, meaning you're getting less bang for your buck.

Dr. Paul Isely, associate dean of Grand Valley State University's Seidman College of Business, says inflation plays a huge role, by sending prices skyrocketing.

"Faster than they have any time over the course of the last decade or two decades, three decades," says Isely.

He says consumer costs are up nearly 8% and cost for producers are up about 11%, so those companies have to make a decision.




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