Definition of price ring in English:

price ring

noun

  • A group of traders or companies acting illegally to fix a minimum retail price for their competing products, thus forming a cartel.

    • ‘Private enterprise must not shelter behind price rings and rigged markets.’
    • ‘In addition, when several business giants reached a stalemate in the struggle for domination of a market they would create a 'cartel' or price-ring which administered agreed, stable prices throughout that industry.’