Price gouging is the practice of retailers artificially inflating prices dramatically when the retailer's costs have not increased.
In times of crisis, when urgent demand vastly outpaces supply, consumers can be especially vulnerable to price gouging.
Florida is preparing for Hurricane Milton to make landfall on its western coast Wednesday, deepening the wounds left by the devastation of Hurricane Helene, which ravaged the southeastern U.S. about a week earlier.
The attorney general's office has received more than 450 consumer contacts alleging price gouging related to Helene, which "mostly concern fuel," a spokesperson told CNBC.
Though the price-gouging panic is normal during natural disasters, just the term "price gouging" has political implications, less than a month out from a presidential election that is extremely close.
Persons:
Pete Buttigieg, Joe Biden, Hurricane Helene, Hurricane Milton, Milton, Helene, Kamala Harris, Harris, Howard Stern, — CNBC's Leslie Josephs
Organizations:
White, The Department of Transportation, Hurricane, CNBC, Transportation, —, Tampa International, Orlando International Airport, . American Airlines and United Airlines, Florida Attorney General's, Democratic
Locations:
Washington ,, Florida, Hurricane, U.S, Tampa, Milton