price gouging
/ˈpraɪs ˈɡaʊzɪŋ/ · price·gou·ing
noun
- The practice of raising the price of goods, services, or commodities to an unfairly high level, typically during a crisis or shortage. After the hurricane, the sudden surge in gasoline prices was widely condemned as price gouging.
verb
- To charge excessively high prices for goods or services, especially when consumers have limited alternatives. Suppliers were accused of price gouging when they doubled the cost of bottled water after the flood.
Synonyms
overchargingexploitationprice inflationracketeeringusuryprice hikinginflated pricingprice exploitation
Antonyms
Did you know? The term gained legal prominence after Hurricane Katrina in 2005, prompting many U.S. states to enact anti‑price gouging statutes to protect consumers during emergencies.