‘Skimpflation’: frustration as US firms skimp on service as prices rise
“Flight cancelled”; “service temporarily suspended”; “not currently available”; “longer than normal wait times”: these are the messages that confront US consumers daily as the economy struggles to find a post pandemic footing. Now the phenomenon has a name: “skimpflation”.
It’s a simple in concept – struggling with shortages of workers and goods, companies are skimping on what they offer consumers while, in many cases, charging the same price or more for that service.
But skimpflation may have profound consequences, and may even go some way to account for rising the rising tide consumer of dissatisfaction seen in increasing air rage incidents and even the Biden administration’s plummeting poll numbers.
Skimpflation is everywhere. Last weekend,
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