The Edict of Prices was a decree issued by the Roman Emperor Diocletian in 301 AD. Its primary aim was to combat rampant inflation and stabilize the economy by setting maximum prices for various goods and services throughout the Roman Empire. The edict listed prices for over a thousand items, including food, clothing, and labor, intending to protect consumers and ensure fair trade. Despite its ambitious goals, the Edict of Prices was largely ineffective and difficult to enforce. Many merchants and producers found ways to circumvent the regulations, leading to a black market. Ultimately, the edict highlighted the challenges of managing an economy in crisis during the later years of the Roman Empire.