price control


noun

government regulation of prices by establishing maximum price levels for goods or services, as during a period of inflation.

Origin of price control

First recorded in 1910–15

British Dictionary definitions for price controls

price control

noun

the establishment and maintenance of maximum price levels for basic goods and services by a government, esp during periods of war or inflation

Cultural definitions for price controls

price controls

Measures, usually temporary, taken by governments to limit price rises in times of rapid inflation.