Credit union executives that have sensed their CUs seem to be getting less product for the same price are likely not imagining things, according to
Consumer Reports
magazine.
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The magazine found that many manufactures of both consumer and business products have shrunk their products by sometimes as much as 20% at the same time they have not cut the price.
The companies have said cutting the size or content of their products has been necessary to avoid raising prices. Companies want to avoid raising prices, the magazine reported, because they fear a higher price will lead a consumer or business to find a substitute product or service.
"They've got a point. Higher commodity and fuel costs are expected to spike in food prices by as much as 3 percent is 2011," said Tod Marks, senior editor and resident shopping expert at Consumer Reports. "But if manufacturers are skimping when costs go up, why aren't they more generous when costs hold steady or fall?"
The magazine reported that manufacturers are often "subtle" in their resizing and rarely highlight that a formerly 30 ounce container of product has shrunk to 27 ounces.
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