This invention relates to a multilayered film for use as in-mold label, comprising: a core layer having a first surface and a second surface, the core layer being comprised of a polymeric mixture and particulate solids dispersed in the polymeric mixture; and an ink-printable layer overlying the first surface of the core layer; the film being formed by co-extruding the core layer and ink-printable layer to form the multilayered film, hot-stretching the film at a temperature above the expected service temperature of the label to provide the film with a machine direction orientation, the density of the film being reduced by about 10% to about 25% during hot-stretching, and annealing the film at a temperature above the expected service temperature of the label; the film having a machine direction Gurley stiffness value in the range of about 30 to about 120, a machine direction shrinkage of less than about 3%, and a machine direction shrink tension at 200° F. (93.3° C.) of less than about 100 psi.