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[quote=Anonymous]Are High Prices Price Gouging?

No, steep price increases are not always price gouging. Retailers can raise the price of their products as supply and demand change.

People might use the term “price gouging" to describe these new price spikes. But the legal definition is usually more specific to an emergency or a type of good or service. Most laws also consider whether the seller had a good reason to raise prices during the emergency.

How Do State Laws Define Price Gouging?

Price gouging is generally based on average prices in an area before an emergency. A look-back period, such as 30 days, measures how high prices have risen during the emergency.

Price increases of 10% to 15% often count as excessive price hikes. Sellers who raise prices that high without a justifiable reason could face civil or criminal penalties.

Many state laws use nonspecific terms like "gross disparity" instead of an exact percentage. This vague description leaves price gouging open for interpretation. The state's consumer protection authority determines whether prices rose too much.

State price gouging laws:

https://www.findlaw.com/consumer/consumer-transactions/price-gouging-laws-by-state.html
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