I'm a bit late to this thread but this is the difference: In price gouging you're influencing the elasticity of the product by telling your consumers (explicitl

I'm a bit late to this thread but this is the difference: In price gouging you're influencing the elasticity of the product by telling your consumers (explicitly or implicitly) that they should be ready to pay more because input costs have increased. You're moving the equilibrium itself to a higher price by exploiting consumer misunderstanding.