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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 New Mexico, price gouging is addressed under the Unfair Practices Act, which prohibits unfair or deceptive trade practices and unconscionable trade practices in the conduct of any trade or commerce. While New Mexico does not have a statute that specifically uses the term 'price gouging,' the Act can be applied to situations where sellers significantly increase the prices of goods or services during emergencies or disasters. The Attorney General's Office has the authority to enforce these regulations and can take action against businesses that engage in price increases that are considered unjustified during times of crisis. Consumers who believe they have been victims of price gouging can file a complaint with the New Mexico Attorney General's Office. It's important to note that enforcement and interpretation of these regulations can vary, and specific thresholds for what constitutes price gouging are not always defined in the statute.

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Consumers

price gouging

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Consumers

price gouging