Hidden price hikes: 6 ways companies are charging you more

Consumers expect prices to rise from time to time. But some of the biggest price increases don't show up on the price tag.Many shoppers are familiar with "shrinkflation," when companies reduce the amount of product in a package while keeping the price the same."Soap, deodorants -- usually a lot of the personal hygiene items are getting smaller and more expensive," said shopper Sean Noll.But consumer experts say that's just one of several tactics that businesses use to increase profits without drawing attention to higher costs.WATCH as a consumer expert explains the sneaky ways companies are raising prices: It's not just high prices: Check out these other hidden price hikesKyle James of ConsumerAffairs recently highlighted six sneaky ways companies quietly raise what consumers pay.1. ShrinkflationShrinkflation occurs when companies reduce the amount of product in a package while maintaining the same price.Shoppers often notice it in products such as chips, cereal, coffee, and pet food.