price fixing

Or price-fixing

noun

1. the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.

price-fixing

noun

1. the setting of prices by agreement among producers and distributors

2. another name for price control resale price maintenance

price fixing

1. Any usually unlawful practice by which producers of a commodity act together to obtain an artificially high price.

Word History and Origins

Origin of price fixing¹

First recorded in 1945–50

Example Sentences

He told the DOJ to investigate meat packers for “illicit Collusion, Price Fixing, and Price Manipulation.”

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While the suggestion of price fixing isn’t new—the companies have denied wrongdoing in the past—the fresh demand for a federal probe signals both political and regulatory pressure for the group.

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In fact, they made so much that the company is currently under investigation by the Department of Justice for alleged price fixing, resulting in a 4 percent drop in its stock.

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A 2011 lawsuit alleging price fixing by some of the same egg producers resulted in a jury finding against the producers in 2023.

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Case in point: In 2020, the state of New York referenced Urner Barry in a lawsuit focused on price fixing during the pandemic, alleging that wholesale producers “use Urner Barry’s indexed prices as justification to set their own prices for the sale of eggs,” no matter how expensive they might be.

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Related Words

• restraint