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Have you heard of skimpflation? What does it mean?

Experts say the suddenly shoddy service is the result of a labor shortage and rising business costs.

CHARLOTTE, N.C. — Move over inflation, make way for a new term: "Skimpflation."

More and more, folks are fed up with companies "skimping" on customer service. Delivery times for Domino's Pizza have gotten longer, Disney hasn't brought its tram service back to theme parks, airline passengers are suffering extensive, seemingly random flight cancellations and hotels are cutting back on daily housekeeping. 

So what's going on? Let's connect the dots.

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Experts say the suddenly shoddy service is the result of a labor shortage and rising business costs. Instead of passing along those costs to customers, some businesses cut corners in the services they provide, often without telling their guests. 

And people have noticed. Overall, customer satisfaction is at its lowest point in 15 years, according to the American Customer Satisfaction Index. Experts say "skimpflation" is likely partly to blame. 

Claes Fornell, the founder of the ACSI, said long term, things will go back to normal, as businesses rely on customer satisfaction to keep the doors open. 

"Customer satisfaction will again become critical," Fornell said in August. "Satisfied customers will come back. Dissatisfied customers will not. Companies with more of the former will do better."

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