Definition of price control in English:

price control


usually price controls
  • A government regulation establishing a maximum price to be charged for specified goods and services, especially during periods of war or inflation.

    ‘the recent surge in inflation has been fuelled by a relaxation of price controls in the past 12 months’
    • ‘Inevitably price control meant that state-owned companies lost money and, in the absence of state subsidies, a large chunk of the economy was bankrupted.’
    • ‘Gittens here faults economists for dismissing the public's demands for price control as irrational, or as merely the expression of a vested interest.’
    • ‘The shackles of price control and regulatory levies must be removed from us in favour of competition,’ Mr Mohan said.’
    • ‘Pumping in more money while imposing direct price control and hoping thereby to stem inflation is very much like trying to cure a fever by holding down the mercury column in the thermometer.’
    • ‘A spokesman said: ‘Transco would not have agreed to the price control if it prevented it from meeting its legal obligations to run a safe gas network.’’