Hello my friends welcome back my name is Stephanie Safarian and you're listening to

episode 282 of Sustainable Minimalists a twice-weekly show about intentional

and ego-minimalist living on today's show we are discussing the concepts of skimpflation and shrink-flation,

as well as how they affect everyday people like you and me. You have definitely felt rising prices at the pump

where the national average for a gallon of gasoline in the United States as of this

recording is $4.97.

And if you're really observant, you may be witnessing the effects of skimplation

in your daily lives in which you're paying the same money for less product or worse

service.

In mid-June, the government reported that consumer prices climbed 8.6% over the year through May

and that is the fastest rate of increase in four decades. So I have a three part show for you today and part one we are going

back to economics class oh my goodness back to high school with a quick primer we're

talking about what inflation is, how we got here, and we're also in that

section in part one of today's show. We're also going to touch on greed inflation.

Part two is all about skim flation and shrink flation and what it means for

consumers like you and me. And then in part three I have three action steps for you to not be taken advantage of by mega corporations during this time of major demand but low supply.

So let's get right into part one today and that is the economics

primer back to school. What on earth is inflation? I'm going to keep this very

simple, very PG for all of us.

But inflation essentially is a loss of purchasing power over time.

What does that mean?

That means that the dollar that you spend tomorrow

...