02:10 PM EDT, 10/07/2024 (MT Newswires) -- Coca-Cola (KO), PepsiCo ( PEP ) and General Mills ( GIS ) are facing scrutiny from two US Democrat lawmakers due to the companies' "pattern of profiteering off consumers" through so-called shrinkflation and by paying less in taxes.

In three separate but similar letters to the chief executives of the three companies on Sunday, US Senator Elizabeth Warren, D-Mass., and US Representative Madeleine Dean, D-Pa., highlighted instances of "concerted effort" by Coca-Cola, PepsiCo ( PEP ), and General Mills ( GIS ) to reduce packaging and portion sizes on products to "squeeze more profit out of customers already facing challenging economic circumstances."

The lawmakers asked the companies to provide information on their "shrinkflation practices" to "more clearly understand the consequences for consumers" of their alleged actions, according to the letters.

Coca-Cola, PepsiCo ( PEP ), and General Mills ( GIS ) did not immediately respond to requests for comment from MT Newswires.

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