Consumers know prices can climb from time to time, but some of the steepest increases never appear on the shelf label.
One well-known example is shrinkflation, when a company cuts the amount of product in a package while leaving the price unchanged.
"Soap, deodorants -- usually a lot of the personal hygiene items are getting smaller and more expensive," said shopper Sean Noll.
Consumer experts say that is only one of several ways businesses can boost profits while avoiding obvious price hikes.
WATCH as a consumer expert explains the sneaky ways companies are raising prices:
It's not just high prices: Check out these other hidden price hikes
Kyle James of ConsumerAffairs recently outlined six quiet tactics companies use to make consumers pay more.
1. Shrinkflation
- Did the package size change?
- What is the unit price?
- Is the quality or service still the same?
- What is the final cost after fees?
- Would you still buy the product if it weren't advertised as a sale?
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