New York investigates Sandy price gouging

11:27 PM, Nov 5, 2012   |    comments
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ALBANY, N.Y. (AP) -- More than 400 possible cases of price gouging have been reported in New York before and after Superstorm Sandy.

Reports are being investigated in New York City, the Hudson Valley and on Long Island by state Attorney General Eric Schneiderman.

Among the reports: The price of a bag of potatoes jumped from $3 before the storm to $7. A box of matches more than tripled, to $10. And a loaf of bread more than doubled, to $7.

State law prohibits spikes in prices for essential goods, including food, water, gasoline, generators, batteries and flashlights. The law also prohibits sharp increases in prices by retailers, supermarkets, hardware stores, bodegas, delis and taxis.

A vendor may defend higher prices if they can show an increased cost of getting goods or delivering services.

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