Why did Diocletian issue the Edict on Maximum Prices in 301 CE?

Diocletian issued the Edictum de Maximis Pretiis (Edict on Maximum Prices) in 301 CE primarily to combat the severe inflation that had plagued the Roman Empire for decades. By establishing maximum prices for approximately 1,000 goods and setting fixed wages, the emperor sought to prevent abusive profits and the exploitation of buyers.1

Beyond addressing general economic instability, the edict served a strategic purpose for the military. Diocletian aimed to reduce the cost of living to make life more affordable for his troops, who were central to his efforts to restore the empire's strength. Despite the severity of the penalties for violations—which included death for black marketeers—the regulation proved unenforceable and was eventually revoked.1