Yes, Even Cookie Monster Is Upset About ‘Shrinkflation’
Muppet’s rant against cookie prices sparks political reaction, White House response
3 min
Cookie Monster is a blue furry muppet who lives on a fake street, but even he is sick of a real menace in supermarket aisles.
“Me hate shrinkflation!,” the “Sesame Street” character wrote to his 626,000 followers on X. “Me cookies are getting smaller.”
Shrinkflation—when companies shrink their products but not the price—has been a hot topic as Americans spend more of their disposable income on food than they have in 30 years . Shrinkflation saves companies money, but politicians have called it greed. It’s been showing up everywhere: fewer sheets of toilet paper in a roll; less juice in a bottle; or in Cookie Monster’s case, smaller cookies that cost the same as when they were bigger.
President Biden has been critical of shrinkflation lately, calling it “a rip-off” by companies who he said are giving Americans less for every dollar they spend.
“As an ice-cream lover,” Biden said in an Instagram video posted last month on the same day as the Super Bowl, “what makes me the most angry is that ice-cream cartons have actually shrunk in size but not in price.”
On Monday, the White House weighed in on Cookie Monster’s post.
“C is for consumers getting ripped off,” the White House posted on X . “President Biden is calling on companies to put a stop to shrinkflation.”
Sen. Elizabeth Warren (D., Mass.) told Cookie Monster she and Sen. Bob Casey (D., Pa.) “have a bill for that.”
Called the Shrinkflation Prevention Act, the bill was introduced by the Democratic senators last week. It would give the Federal Trade Commission and state attorneys general the authority to punish companies engaging in shrinkflation.
Snacks such as chips and cookies have become 26% more expensive since January 2019, according to a report by Casey released in December . Nearly 10% of the price increase was due to shrinkflation, the report said.
Oreo fans have noticed less cream in the black-and-white cookies, but the company behind them has said there hasn’t been a change to the cookie-to-cream ratio. French supermarket chain Carrefour started attaching labels to products in September warning shoppers of what it deems to be shrinkflation. And even the rich and famous have noticed: Rapper Cardi B has ranted about high inflation and rising lettuce prices . “Naaaaaa,” she tweeted last year, “grocery shopping prices are ridiculous right now.”
David Chavern , the chief executive of the Consumer Brands Association, which represents major food makers, said industry leaders understand the pressures of inflation on Americans and have asked to meet with Biden.
“This is a serious issue and needs responsible leadership, not gimmicks or muppet memes,” he said. “In the meantime, we will continue our efforts to provide the best products at the most competitive price.”
“Sesame Street” characters have been diving into real world issues on social media, gaining differing reactions from politicians.
When the Covid-19 vaccine was approved for children, Big Bird tweeted he got the shot.
“My wing is feeling a little sore, but it’ll give my body an extra protective boost that keeps me and others healthy,” he wrote .
Republican Texas Senator Ted Cruz tweeted that it was , “Government propaganda…for your 5 year old!”
In January, Elmo asked a question on X : “How is everybody doing?,” only to get inundated with replies from people talking about their mental health and saying how bleak their lives are, garnering a tweet from Biden.
“I know how hard it is some days to sweep the clouds away and get to sunnier days,” Biden responded to the red muppet . “Our friend Elmo is right: We have to be there for each other, offer our help to a neighbour in need, and above all else, ask for help when we need it.”
Representatives for “Sesame Street” didn’t respond to requests for comment Tuesday.
As for Cookie Monster’s shrinkflation rant, Edgar Dworsky is happy to have more allies.
“I’ve been campaigning against shrinkflation for more than three decades,” said Dworsky, who calls out companies engaging in shrinkflation on his websites ConsumerWorld.org and MousePrint.org. “I welcome the help of such prominent figures as Cookie Monster and of course, the president.”
In the meantime, Cookie Monster seems to have found his own shrinkflation solution.
“Guess me going to have to eat double da cookies!,” he tweeted .
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Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market. The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index. …
Continue reading “ASX falls 0.7 per cent as miners and property stocks retreat”
2 minAustralian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.
The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.
Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.
Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.
Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.
Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.
The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.
The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.
Market dashboard
S&P/ASX 200: 8,702, down 0.72 per cent.
All Ordinaries: 8,897, down 0.66 per cent.
Best sector: Energy, up more than one per cent.
Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.
Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.
Material loser: Zip, down 11.38 per cent.
ASX 300 percentage leader: Myer, up 11.43 per cent.
ASX 300 percentage laggard: Zip, down 11.38 per cent.
AUD/USD: Approximately US$0.7038, broadly flat.
A survey of people with at least $1 million in investable assets found women in their 30s and 40s look nothing like older generations in terms of assets and priorities
Mirzaian is a senior director within CBRE’s Development NSW business, operating across the company’s Western Sydney and North Sydney offices
