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This seems like a great idea and i wouldn't mind it getting expanded to become an EU wide norm.
That said it only adresses part of the problem. Another way consumers get tricked are recipe changes to substitute expensive ingredients for cheaper ones. And this one also subverts the mandatory kg/€ (or litre/€) price notices, which in a way already help with identifying shrinkflation. Although prominent warnings would help a lot fighting the psychological tricks involved in shrinkflation.
Personally i would also like laws to go even further and make it mandatory for companies to maintain public databases with product sizing and ingredients. Although i assume it wouldn't be easy to fight against companies trying to subvert such system and claiming that near identical products are something new rather than just a new worse version of something existing.
On that note i also miss the more standardized portion sizes we had here in Germany for a lot of products. Actually something that sadly had to be abolished due to eu regulations, which at the same time at least seemed to have given us the already mentioned kg/€ price labels.
I had to jog my memory with this article (in german) from 2009 when the change apparently happened. An example it gives is that e.g. sugar (up to a size of 1kg) could only be sold in portions of 100, 250, 500, 750 und 1000g. So no trickery with random inbetween sizes. Obviously not a huge problem with something like sugar, but it similarly also applied to something like chocolate bars. Which nowadays come in the most random, constantly changing weights.
Maybe a bit heavy handed, but i wouldn't mind fighting shrinkflation in some areas by simply forcing standardized sizes.