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Officials crack down on baby formula price gouging

A crackdown on what officials call “unconscionable” costs comes as out-of-stock rates for baby formula hit new highs at 70 percent. Wisconsin’s Governor issues an emergency order prohibiting price gouging, while New York’s attorney general threatens several dozen retailers with “legal consequences” for overcharging. Consumer watchdogs say there is no federal law prohibiting price gouging, and while some platforms do have policies banning the practice, they’re often not enforced.