With a nationwide formula shortage, families are having to resort to buying formula online from resellers – some being resold for up to $1000.
, President Biden asked the Federal Trade Commission and state attorneys general to crack down on unfair market practices around formula, including price gouging. The White House said there were several reports that people were purchasing formula and reselling it online “at a markup several times the retail price,” especially on specialty brands of formula.
conditions at the Michigan plant. The plant restarted production last weekend and is making EleCare products first, but these additional products won’t be available until around June 20. One woman offered it at $40 a can. As the Steibers found, this sale wouldn’t be covered by insurance, like the formula she gets from a distributor.When she met with the woman, she was told that the price had gone up – to $100 a can.“Unfortunately, I’m one of those people that have no choice, because it’s either feed my child or take them to the hospital, and I don’t want to take him to the hospital,” Henderson said.
“There is a fine line between gouging prices and supply-and-demand issues,” Milligan wrote in an email. “When a complaint comes in, it must meet specific criteria to trigger an investigation. We stand ready to fight for Hoosier families and do what we can under our authority.”