FTC Investigates Secret Price Hikes on Shoppers

You might pay more for a ride or groceries than the person standing next to you. Companies track what you do online. They may use that information to set your personal price.

The Federal Trade Commission opened a broad inquiry into this practice. The agency ordered nine big corporations to share their pricing secrets. The targets include retail giants like Walmart and travel firms like Delta Air Lines.

Regulators call this method surveillance pricing. Computer programs monitor your location and shopping habits. The system can raise costs instantly if it thinks you have more money to spend.

Shoppers deserve an honest marketplace. Compare prices across different phones or web browsers before you buy. Clear your web cookies often to keep companies from tracking your habits.

Source: Fox Business