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As inflation raises the price of groceries, dine-in meals and takeout foods, companies are trying to cover costs without losing customers. Some are turning to “shrinkflation” — reducing portions or package sizes — while keeping prices the same. Others, like pizza chain Little Caesars, are raising prices but trying to put a positive spin on the cost increase by delivering more value. But does it make good, economic sense?
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In a national promotion, Little Caesars announced that its iconic “Hot-N-Ready” $5 pepperoni pizza will now cost $5.55. The increase amounts to 11%, but customers will also get 33% more pepperoni on…