Prices for protective masks have surged as fears of coronavirus spread. Demand for masks has easily outpaced the current supply. The U.S. government is urging manufacturers to scale up production.
Masks are starting to sell out all over the country as fears of a potential coronavirus pandemic spread. Searches for masks online, at local pharmacies and hardware stores are coming up short, and many of the merchants that still have masks are jacking up the prices. Planet Money's Greg Rosalsky has this report.
ROSALSKY: So Tamasi called and drove to stores around St. Louis, which is where he lives, still no luck. So he tried eBay. TAMASI: I think I got 50 masks for 50 bucks. It's not going to break the bank. It was like better play it safe than sorry. ROSALSKY: The U.S. Health and Human Services secretary, Alexander Azar, says the government wants to buy 300 million additional N95 masks to protect Americans. He's urging domestic manufacturers to ramp up production. And that's kind of the point. There's not enough supply, and that's the reason why prices are surging all over the place. And obviously, that's not popular.
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