FTC Probes Hidden Price Hikes Based on Personal Data

You and your neighbor might pay different prices for the exact same item. Companies track your income and your shopping history. They also follow your location. Federal regulators suspect businesses change prices based on these personal clues.

The Federal Trade Commission ordered answers from nine massive corporations. The target list includes Walmart and Uber. Delta Airlines also received an order. Officials call this practice surveillance pricing. Regulators want to inspect the hidden computer code that sets these rates.

Companies claim these tools match supply with customer demand. Consumer watchdogs disagree. They argue the practice hides costs from buyers. It can also punish shoppers who need items quickly. The government wants clear records on how personal data alters your final bill.

Keep a sharp eye on your checkout screen. Compare prices on two different devices before you buy. Clear your web browser history to see the base price. Smart shoppers check every cost to protect their hard-earned cash.

Source: Fox Business