What is shrinkflation?

Inflation continues to creep upwards, and so does the price of goods we are buying - but what about the actual value of those items? 'Shrinkflation' is the term applied to when products increase in price, but customer ends up paying more for the same or less. You could also end up paying more for a product of lower quality. This week, we speak to Edgar Morgenroth, professor of economics at DCU Business School, to delve into the subject more.