New Delhi, Aug. 9 -- In a "shrinkflation" world, investors might want to stop and appreciate the stock market, which is giving them more for less.

American shoppers are struggling. They have to cope with the frustration of higher prices brought by inflation. They suffer the indignity of shrinkflation when they pay the same price for less product. And they must endure the humiliation of the particularly insidious "skimpflation," when manufacturers stint on costly ingredients, such as the chocolate and peanut butter in a peanut butter cup, and replace them with fillers like "chocolate candy" and "peanut butter cream."

Against that backdrop, U.S. stocks stand out by offering investors more for less. While the S&P 500 index is up 22% in the...