Shrinkflation: The sneaky way companies raise prices

Consumer advocate Edgar Dworsky discusses how shrinking packaging leads to higher costs.

For decades, companies have found ways to raise prices without changing the dollar amount on the price tag. Edgar Dworsky is onto them.

Dworsky, a consumer advocate who founded Consumerworld.org, says this product downsizing is a perfect example of shrinkflation. Dworsky sat down with Physicians Financial News to explain the concept, why it matters, and what consumers and businesses can do about it.