If you've been noticing your grocery bill being impacted by "shrinkflation" lately, you're not alone.

Whether it's with bottles of salad dressing or packs of bacon, Canadians have been spotting more food products shrink in size, weight, or quantity while the price stays the same or even increases.

The New Democratic Party (NDP) has set in motion a plan that aims to tackle this growing issue.

On Wednesday, the party's food price inflation critic, Alistair MacGregor, tabled a bill in the House of Commons to end the practice.

The bill would establish a national framework to improve food price transparency through standardized unit pricing and public awareness for consumers about shrinkflation.

"Canadians have been watching food prices increase for years, and while costs have gone up, the size of what we're buying has shrunk," said MacGregor.

"The food products you used to buy still cost the same, if not more, but you're getting less for your dollar. Shrinkflation is another way grocery CEOs are gouging people and making record profits."

Shoppers have even started seeing shrinkflation at big-box store Costco.

In a news release, the NDP said the federal government has "done little to stand up to grocery CEOs," adding that the Liberal Party has voted against measures in NDP leader Jagmeet Singh's bill to lower costs for Canadians, including combating price fixing and banning harmful mergers that reduce competition.

The federal government is working towards its first-ever Grocery Code of Conduct that aims for "transparency, predictability and fair dealing" when it comes to the grocery business.

Loblaw finally agreed to sign the code of conduct in May as thousands boycotted its stores.

"You shouldn't be paying more for the food you and your family need only to get less. Especially all so CEOs can line their pockets even more," added MacGregor.

Canada's Competition Bureau has made moves to investigate alleged "anticompetitive conduct" by grocery giants Loblaw and Sobeys.

What are your thoughts?