‘Shrinkflation’ may be the reason your favorite products are getting smaller

(CNN) - You know when you open a bag of chips and realize the bag is only about half full? You might start seeing more of that - and not just with chips.

People are seeing everything getting smaller, like slimmed down toilet paper, fewer cookies in a bag and even less hair conditioner in a bottle.

Retail industry experts say record levels of inflation are costing companies more to produce all sorts of items, so they can either raise prices or give you less.

This is called “shrinkflation.”

As frustrating as it is for consumers, hiking prices is a last resort for companies, because they know that buyers will notice and it could hit demand for their product.