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My guess would be not malice, but incompetence. I see this in stores all the time. The product changes (in this case I would guess it went from 4 oz to 3.5 because 3.5/100g is more standard European size and it didn't make sense to make the larger size just for the US anymore) but although the company made a new tag, the staff at the store didn't get the new tag out. I see old tags at stores all the time even after products change. Recently it has been that the price goes up, but they still have the lower price tag on the shelf. It's illegal, but ridiculously common.
They use metricification as an excuse to shrink packages in Canada a ton.
Bacon, butter and a ton of other products used to always come in pounds, labeled as 454 gram packages. Lately they've all shrunk to 400 or 350 gram packages.
Yep the progress is 500g -> 1lb (454g) -> 400g or
20 US fl oz (591mL) -> 500mL -> 16 US fl oz (473mL) -> 400 mL -> 12 US fl oz (355mL), and so on and so forth
All you have to do is tell the cashier the tag says otherwise. Once they verify the tag price they have to honor it.
This is how I got some weedkiller for like $2 from Home Depot. Apparently they had a sale on it like 4 months back and no one changed the tag. It rang up at line 10x the price and I told them about the tag. We walked back to it, they took the tag off, and I got the weedkiller at tag price.