What is Shrinkflation & its economic impact

Most of us are familiar with the concept of inflation – it is a quantitative measure of the increase in the price of a basket of goods in a given economy. Inflation is measured in terms of percentage increase – this increase generally represents the decrease in the purchasing power of a nation’s currency. Most of the Central banks’ monetary policies around the globe are centered around the premise of keeping inflation in check (usually 1%-3%) so that the economy keeps running smoothly. However, this is not always the case & other off-shoots of this phenomenon emanate from the inflationary…...