The following is a news release from the Office of the Attorney General of Guam:
The Consumer Protection Division (CPD) of the Office of the Attorney General (OAG) has received 30 cases of suspected price gouging violations since the law went into effect earlier this week.
In order to carry out thorough price-gouging investigations, the OAG asks residents to include as much information as possible when reporting suspected violations. Reporting information should include:
• The name of the store or business suspected of price gouging. Be as accurate as possible with the business/store name. If residents are not certain about the name of the business, please provide a street name or landmark which will allow OAG investigators to properly identify the establishment. • Identify the product. Please be as descriptive as possible. Details such as brand, size (i.e. fluid ounces, pounds, number of loads), and product type (bleach, wipes, detergent) is important. • Take a photo. Consumers are asked to take a photo of the item in question and its advertised price.
Consumers are urged to continue to watch for price inflation on goods that may be in short supply such as toilet paper, rice and hygienic products and to report violations via email at firstname.lastname@example.org.
Guam’s price gouging laws went into effect earlier this week and requires that the prices of goods and services stay fixed and remain fixed for up to 30 days.
Any store or retailer violating Guam law may owe up to three times the amount of gross profits on the overcharged goods. It is also illegal to increase the price of services or dwelling rentals. Merchants and landlords may owe up to five times the amount of inflated services and rentals.