In the News
Skimpflation - is the quality of service dropping as prices rise?
7th November 2021
I like being introduced to new concepts - in this case, 'skimpflation'where service sector suppliers are less concerned with standards of service.
The example given is the airline industry, with last weekend seeing a large number of flights cancelled or delayed across the US, and airlines seemingly prepared to accept this as a result of labour shortages and supply chain problems.
Thus, going forward, will skimpflation be to services what shrinkflation is to manufacturing?