price control

Related Terms
Government dictated ceiling on the prices of essential consumer goods, to keep cost of living within a manageable range. Price control was quite common in developing countries until 1990s. In 1971 in the US, all prices were frozen for 90 days to rein in galloping inflation.

Use 'price control' in a Sentence

The price controls in place in the City of New York limit the annual increases we are able to incorporate into our tenant leases.
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You need to understand how to best utilize your price control so that you can always get the most for your product.
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The price control had created a ceiling on the cost of the good which did not let the free market operate.
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