A political buzz word, used to demonize businesses, doesn't change the definition of the word.

IF, said store, was the only one in a large city, and did that on all food items. You would have a point, your example is, 1 item, and other price options were available at other stores. You also have other food items to buy, so you won't starve if you don't buy that item.

Also a high price on an item in short supply, is somewhat self-rationing, 

Pretty simple to understand for independent thinkers.