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price gouging

Price gouging occurs when retailers or other sellers take advantage of the increased demand and insufficient supply of goods and services—often commodities and basic necessities—following a natural disaster, war, civil unrest, or other event, and increase prices beyond a fair or reasonable amount.

In Iowa, price gouging is regulated under the Iowa Code § 714.16, which is part of the Iowa Consumer Fraud Act. The law prohibits excessive pricing of goods or services needed by victims of disasters when a state of disaster emergency has been proclaimed by the Governor. Specifically, it is unlawful to charge prices that are unconscionably high, a term that is generally understood to mean a significant increase over the prices charged immediately prior to the emergency. The statute applies to the sale of products and services that are vital and necessary for the health, safety, and welfare of the public. Violations of Iowa's price gouging laws can result in penalties including fines and injunctions against the seller. The enforcement of these regulations is carried out by the Iowa Attorney General's office, which can take action against businesses or individuals that engage in price gouging.

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Consumers

price gouging

As a LegalFix Member You Will Be an Important Client of Local Law Firms

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Iowa State Code

Iowa State Code

Consumers

price gouging

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