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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 York, price gouging is illegal under General Business Law, Section 396-r, which prohibits the selling of goods or services necessary for the health, safety, and welfare of consumers at an unconscionably excessive price during any abnormal disruption of the market. Such disruptions typically include natural disasters, wars, or civil unrest. The law applies to all parties within the supply chain, including retailers, suppliers, and manufacturers. The determination of whether a price is unconscionably excessive can consider several factors, such as the amount of the price increase, the cost to the seller, and prices in the trade area. If a business is found to have violated this statute, it may face penalties including fines and injunctions. The New York Attorney General's Office is responsible for enforcing this law and can initiate lawsuits against businesses suspected of price gouging.

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Consumers

price gouging

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Consumers

price gouging

New-York State Code

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