Skimpflation

Etymology

A portmanteau of "skimp" and "inflation," popularized around 2021 by economics journalists, notably at NPR’s Planet Money. It followed the model of the earlier coinage for shrinking package sizes.

noun · /skimp-FLAY-shuhn/
A hidden form of inflation in which a product’s price stays the same but its quality or the service around it quietly declines.
What it names
The erosion of quality-per-dollar — you pay the same for less good — a squeeze that ordinary price tags conceal.
Example
The hotel rate held steady, but skimpflation meant no daily cleaning and a breakfast buffet cut to coffee and toast.
Related idea
A sibling of shrinkflation, which shrinks the quantity you get while holding the price; skimpflation degrades the quality or service instead. Both are stealth versions of ordinary inflation, which simply raises the sticker price in plain view.