Ben Fields: Some genius money moves to get past 'sneakflation' (ÂÒÂ×ÄÚÉä)

I hadn't heard the term until this week, while accidentally catching a segment on "The Today Show" about this new (or maybe not so new) phenomenon. 

Inflation is starting to inch back up, and the tariff quackery of the current administration is finally starting to hit retailers. Stuff is starting to cost more, even online. According to an expert talking to the "Today" hosts, some companies are finding ways to save money on their end without changing the price tag consumers see. One way to do this is by lowering production costs, resulting in lower-quality products. Retailers or manufacturers can also raise shipping fees or use slower, less-costly delivery methods. Cutting back on customer service is another tactic of sneakflation. 

Now, some of this has already been happening for a couple of years and went by the aforementioned label of skimpflation. These terms are all derivations of shrinkflation -- basically charging people the same or more for less of a product, a practice that became en vogue around the time of the COVID pandemic because of supply chain issues and regular, old-fashioned inflation.

I'm not sure how sneakflation is different, but I guess it's my responsibility to tell you to look out for it. So there, you've been warned. 

As far as what to do about it, well, "Today" had some amazing advice, which was, more or less, "go to Costco." Wow. Brilliant. 

You can't go to Costco here, but you can go to Sam's Club. I guess that would be the regionalized version of this truly visionary financial insight. 

I'm not an expert on the effectiveness of buying in bulk (my mind goes to the paradox of the Marge Simpson line "That's a good price for 12 pounds of nutmeg") but it's certainly not a new idea.  

Honestly, for a second, I could see why people get fed up with television news. I happened to be watching the segment with my wife, who is particularly focused on where we can, as middle-class folk, save some money. She was pretty peeved about how out of touch the whole thing seemed. 

"People in flyover country have been doing this for forever," she said. 

It's definitely frustrating to hear such glib advice from those who are highly paid to be on TV. We are always analyzing our finances, as many people in West Virginia do, looking for areas to apply that sage tactic of belt-tightening while avoiding the sin of living beyond our means. 

Really though, the basic standard of living is getting unaffordable, and people are running out of places to cut. Groceries are essential. Housing is essential. Transportation is essential. Internet and cell service are essential. Throw in medical bills, child care, the cost of insurance and utilities (which are no bargain in West Virginia to be sure) and things get very costly very quickly. 

This reminds me of the time a member of the West Virginia Public Service Commission wrote that a good way to cut electric bills was to make sure to turn off unused lights and unplug devices when you're done with them. Meanwhile, the PSC was approving astronomical rate hikes so power companies could cover losses for inefficient business practices -- namely using more coal than they needed and running at a ridiculously high and uneconomical capacity (mandated by the state government). No amount of conservation by the average consumer could undo the elevated costs they have to bear in order for the coal companies to make bank. 

On top of that, all four of West Virginia's members of Congress just voted in favor of legislation that will gut Medicaid and food assistance while facilitating tax breaks for the uber wealthy. Why shouldn't the greedy gouge us? If the people supposedly representing us are to be believed, we're overstuffed with unearned money and practically begging to be bled dry. 

Call it sneakflation, call it legal theft or call it corruption. The name of the game doesn't really matter. In the end, it's all about the rich getting richer. Someone has to pay the price, and that someone is everyone else. Same as it ever was.