Cocoa Prices Spike, and Now Hershey’s Bars Are Shrinking

Hershey is quietly cutting back the size of its products in response to soaring cocoa prices — a classic case of shrinkflation, where you pay the same but get less, Forbes reports.

Global cocoa prices have hit record highs, driven by crop failures in West Africa (where most cocoa is grown), climate challenges, and surging demand. Chocolate makers like Hershey are now facing serious cost pressure — and passing some of that pressure onto consumers without raising prices outright.

What is Shrinkflation? It’s a pricing tactic where the package and price stay the same, but the product gets smaller. Think fewer squares in a chocolate bar, or lighter bags of candy that look the same on shelves.

Hershey hasn’t publicly confirmed which products are shrinking, but experts and chocolate fans alike have started noticing subtle size reductions.

This move reflects a broader trend in consumer goods as companies across industries — from snacks to soap — quietly reduce quantities to cope with inflation and rising production costs, without triggering customer backlash from obvious price hikes.

Cocoa isn’t the only thing going up. Americans are carrying more personal debt than ever. While banks like Synchrony say most borrowers are keeping up with payments for now, experts warn that persistent inflation — even in smaller forms like shrinkflation — could push household budgets closer to the edge.