“Shrinkflation” is the word du jour for the Biden administration, which is readying for the president to discuss the economy in his annual State of the Union address.

Shrinkflation, a portmanteau of “shrink” and “inflation,” has become a popular term for corporate greed among the more liberal lawmakers in the Democratic Party. They contend that corporations are cheating consumers by giving them less product for the same price — shrinkflation.

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