Businesses do that all the time! Any news that indicates prices may be going up, they then raise the prices. The most blatant example is when there is news of the price of crude oil going up, the local gas stations raise the prices of their gas! The gas in their tanks was made from petroleum shipped to refineries weeks prior. Any actual increase in crude oil prices wouldn't affect their gas for several weeks (unless, of course, their supplier does to them what they do to their customers, but regardless, the gas in their underground tanks was purchased well before any actual cost to them increased)
I agree, they gouge whenever the opportunity presents itself and suppliers of necessities are the worst offenders. Suppliers of discretionary items can try, but it will hurt their sales.
Admittedly the lines between necessities and luxuries is very blurry anymore. My grandparents believed a landline telephone was a luxury. Today people behave like the next smartphone release is a necessity.
Businesses do that all the time! Any news that indicates prices may be going up, they then raise the prices. The most blatant example is when there is news of the price of crude oil going up, the local gas stations raise the prices of their gas! The gas in their tanks was made from petroleum shipped to refineries weeks prior. Any actual increase in crude oil prices wouldn't affect their gas for several weeks (unless, of course, their supplier does to them what they do to their customers, but regardless, the gas in their underground tanks was purchased well before any actual cost to them increased)
I agree, they gouge whenever the opportunity presents itself and suppliers of necessities are the worst offenders. Suppliers of discretionary items can try, but it will hurt their sales.
Admittedly the lines between necessities and luxuries is very blurry anymore. My grandparents believed a landline telephone was a luxury. Today people behave like the next smartphone release is a necessity.