price gouging

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Noun1.price gouging - pricing above the market price when no alternative retailer is available
pricing - the evaluation of something in terms of its price
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Bank of Japan Governor Masaaki Shirakawa expressed reluctance Sunday toward introducing inflation targeting, saying the central bank's current price gauging system can produce the same effects as expected under inflation targeting.
Price gauging definitely exists because manufacturers know that, at one point, people were willing to pay higher prices.