New Law Bans Shrinkflation: Protecting Consumers from Hidden Price Hikes.
This bill aims to protect consumers from "shrinkflation," the practice of reducing product size or quantity while maintaining or increasing the price. The Federal Trade Commission (FTC) is mandated to issue regulations prohibiting manufacturers from engaging in this deceptive practice. This measure is intended to help families save money and ensure greater transparency in consumer pricing.
Key points
Establishes a federal prohibition on manufacturers reducing product size without a corresponding price decrease (shrinkflation).
The FTC must establish rules within 18 months defining shrinkflation as an unfair or deceptive act or practice.
State Attorneys General are empowered to sue companies on behalf of residents to secure damages, restitution, and civil penalties.
Status:
Expired
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