Shrinkflation simply means “Less Quantity in Same Price”. It is a hidden form of inflation. It is a practice of reducing the size of the product (or package downsizing or package shrinking) while maintaining the same price as it was earlier. One of the main reasons of adopting this practice is that the consumers generally pay less attention to the weight or quantity of the product and more attention to it’s price. It’s common in FMCG (Fast-moving consumer goods) industry. It is done in order to meet the rising costs of production, material, power, etc. and sometimes market competition.