And my response was "huh?" Yes. I'm afraid it's true. Instead of calling what it is, SOMEONE somewhere makes up a new term: shrinkflation.
Here is a Bloomberg article that discusses it:
A former adviser to President George W. Bush, Malmgren is zeroing in on what’s come to be known as “shrinkflation” -- where companies charge consumers the same, or more, for less. That may foreshadow an overall jump in prices, an alarm she’s been sounding for a while.What? I'm sorry...repeat that? "just before inflation proper sets in"? Uh, ahem. W. T. F.? Can someone please tell me what "inflation proper" means?
“Shrinking the size of goods is exactly what happened in the 1970s just before inflation proper set in,” she writes in her new book, “Signals: The Breakdown of the Social Contract and the Rise of Geopolitics.”
Nevermind! I'll tell you want it means. It means NOTHING. Inflation proper is nothing more than that. Inflation! What an incredibly stupid and insulting article!
Why can't they just call a spade a spade? And I know why they can't bring themselves to say it. Admitting it really is inflation means the Dark Period has begun. I can't help but feel the article's intentmay not to be to convince you there is really no "inflation proper" but to convince themselves, hey, we're ok. We haven't been hit with inflation proper. You know, inflation per se.
Here is my personal story of my first confrontation with inflation back in the 70s. Well, maybe it wasn't my first. But it is printed on my brain and I can't forget it.
Inflation proper! Indeed!