price gouging

American  

[prahys gou-jing] / ˈpraɪs ˌgaʊ dʒɪŋ /

noun

1. an act or instance of charging customers too high a price for goods or services, especially when demand is high and supplies are limited.

   The law prohibits price gouging during weather emergencies such as snowstorms.

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Other Word Forms

• price gouge verb (used with or without object)
• price gouger noun
• price-gouge verb (used with or without object)

Etymology

Origin of price gouging

First recorded in 1915–20

Example Sentences

One senior executive in the credit-reporting industry told Lansing that his company’s price hikes practices amount to price gouging.

From The Wall Street Journal

The commerce ministry also has warned businesses against price gouging and set up a hotline for complaints.

From Barron's

In January, Airbnb released a statement denouncing price gouging and promising to make it impossible for hosts to raise the prices of their properties by more than 10% from their pre-wildfire rates.

From Los Angeles Times

The union’s founder, John Schwarz, explained in an Instagram post that the union is demanding “fair taxes, an end to price gouging, real equality, and corporate accountability.”

From Salon

Eyewitnesses said Israeli drones fired at members of a Hamas police force, dressed in civilian clothing and wearing masks, who were confronting vendors they accused of price gouging and selling goods looted from aid trucks.

From BBC