There are many ways to study inflation. You may start by looking through your collection of bills. Economists like to swear by the consumer price index or indices, if you are even more into inflation. In textbooks like “economics for dummies” we learn about rational behavior and price adjustment mechanisms through the “invisible hand” to find some sort of equilibrium.
Advanced economics courses will teach you about strategic behavior inspired by game theory and the effectiveness/ineffectiveness of cheating. For advanced economists it is, therefore, inevitable that “cheatflation” should be part of the economists’ vocabulary. Of course, a profit maximizing entrepreneur is likely to way the risk of being found out contributing to cheatflation against the potential gains.
How to cheatflate? Too easy. Any producer of a product can cheat by using, for example, other ingredients than those printed on the product label, usually cheaper ones. Instead of fruit juice (wine) you may just sell colored water with lots of sugar (ethanol) in it, but still label it fruit juice (wine) and get away with this, until a consumer protection group makes a fuzz about it. A more sophisticated way is to sell investments in ESG-rated funds, but then include dirty stocks without proper notification in the fund, which probably increases profits based on wrong labels.
There is a specific quality to cheatflation, which makes it different from shrinkflation or enshittification. The drive to “obtain unfair advantages” through cheating across a whole country or region makes cheatflation an economy-wide process and subverts general fairness rules as well as trust in a society.
(Image Saccharometer, DTM Berlin 2024)