Inflation… Shrinkflation…FUNflation!
Forget what the Fed chairman says. Forget the Consumer Price Index and the Producer Price Index.
Pay no attention to core inflation and the Personal Consumption Expenditures (PCE) price index. Pay no attention to any of Washington’s price indices.
Instead, trust your own living experience. Is your cost of living going up or down? Does feeding your family cost more or less?
Here’s just one example among millions of what is actually happening. Take a look!
A hot dog sold at Daytona Racetrack. Both are from the same counter. Same price. The one on the left is from 2021. The one on the right is from just a week ago on January 29th at the Rolex 24 race!
Skrinkflation strikes again, this time at the Raceway. Being this case of shrinkflation occurred at a sporting event, does this border on Funflation? Funflation is a recent economic trend that is hitting concert and sporting eventgoers hard. Have you noticed the face value of a concert ticket recently? The cost to attend a ballgame? Remember when taking the family to a baseball game was somewhat affordable?
Forget the Super Bowl, as it gets closer and closer to only being affordable by either the super-wealthy or the super fiscally irresponsible. A single ticket for next week’s Super Bowl is averaging close to $10,000. This is up almost 70% from last year’s big game! The crazy part? It will still be sold out!
Shrinkflation and Funflation are merely tactics by greedy corporations to fight the pressure inflation is putting on their profits. Instead of raising the price and risking consumer backlash, companies are hiding this behind inferior products, smaller sizes, and lower quantities.
It’s everywhere.
Remember how when you were a teenager you could easily attend a concert with a little money saved up? It sure is unfortunate, but today’s teenager has to (have their parents) pay hundreds or even thousands of dollars to go and see their favorite act.