Philip Caldwell, Washington Free Beacon
Food company Frito-Lay has cut down the number of chips in each bag of Doritos as record inflation has raised production expenses.
A bag of Doritos has five fewer chips than it used to, the company told Quartz. “Inflation is hitting everyone. … We took just a little bit out of the bag so we can give you the same price and you can keep enjoying your chips,” a Frito-Lay representative said.
Other ubiquitous consumer products have fallen victim to “shrinkflation,” Quartz reported. Bounty has cut three sheets from each roll of paper towels, and a box of Wheat Thins now has 28 fewer crackers.
Under the Biden administration, inflation has skyrocketed. Inflation reached a 40-year high last month, even before Russia’s invasion of Ukraine caused energy prices to surge. The cost of food accounts for much of the inflation, with grocery prices up 8.6 percent from last year.
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PepsiCo, which owns Frito Lay, profits rose 12.4% to $25.25 billion. So, the fewer chips is just more profit.
Proctor and Gamble, which owns Bounty paper towels, profits rose 6.12% to $20.95B, net profit margin is 20.15%, which is up 3.23%. Net change in cash +1.17 billion, up $180.81% since March 2021. So, 3 less sheets is inflation, not profiteering.