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October 12, 2008 4:04:58 AM CDT

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Americans Have Less in Their Shopping Carts

Posted Jun 30, 08 1:04 PM CDT in Business 

(Newser) – Food prices are rising, but thanks to some chicanery on product labels, many Americans may not realize it. Instead of raising prices, manufacturers are slimming cereal boxes, juice cartons, and bars of soap, and they’re doing it very quietly. If asked, they’ll say it offsets rising fuel and commodity costs, but most keep quiet and hope consumers don’t notice. Time goes shopping.

“People are just more sensitive to changes in price than changes in quantity,” says one business professor. “Most people can tell you how much a box of cereal costs, but they have no clue how much is actually in it.”

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Donna McMorrow of Abingdon, Mass., shops at a Shaw's supermarket in Braintree, Mass., May 27, 2008.   (AP Photo/Stephan Savoia)
Costco shopper Francisca Merino loads her family groceries onto the check-out counter at a Seattle store Thursday, May 29, 2008.   (AP Photo/Elaine Thompson)
Gloria Hufhagle checks her list of groceries and their costs as she shops at a Shaw's supermarket in Braintree, Mass., Tuesday morning, May 27, 2008.   (AP Photo/Stephan Savoia)
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US economy  • economy  • food prices  • weakening economy  • grocery stores  • label  • portions


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