Word: digitalizes
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...cost of money is rising mainly because other prices are moving up smartly. Alarmed by the 1.2% jump in consumer prices in July, which translates into a compound annual rate of 15.4%, commercial banks and other lenders are protecting themselves against the possibility of continued double-digit inflation by charging more for their money-especially on some long-term loans. Rates on four-year Treasury bills are now two percentage points higher than three-month rates-an unusually wide spread that plainly signals an upsurge in inflationary expectations in the money markets...
...figures. Food prices jumped a startling 1.7% in July, mainly because of hefty increases in meats, poultry and vegetables. Gasoline prices climbed even faster: 4.3%, or an average of 2.4? per gallon. The cost of fuel oil, used cars and medical services also continued moving up at a double-digit annual pace...
...inflation rate will subside soon-perhaps to 6% or 7%, which, to be sure, would still be distressingly high. Last week in Vail, Colo., President Ford's chief economic adviser, Alan Greenspan, said of the CPI for August: "We do expect it to be below the double digit rate." The Department of Agriculture called a special press briefing at which officials reassuringly predicted that the retail cost of food will rise no more for the rest of the year than it did in July alone. Their reasoning: most meat and poultry prices appear to have peaked, and some have...
When a child's fingertip is sliced off or smashed in a car door, most doctors sew up the wound or attempt to reconstruct the digit. But the best treatment for such injuries may be none at all. Writing in the Journal of Pediatric Surgery, Dr. Cynthia Illingworth of the Children's Hospital in Sheffield, England, reports that until the child is age eleven or so, a fingertip that is not damaged below the first joint will often regenerate spontaneously if left alone. Thus instead of suturing up smashed or amputated fingertips, Dr. Illingworth and her colleagues merely...
Although the consumer price index rose at an annual rate of 10% in June, no one really expects another round of double-digit inflation. But the figures do indicate more inflation than had been anticipated. One top Ford Administration economist, who had been estimating that prices would be rising at a 6% rate at year's end, now privately predicts 7%. Any prolonged new surge of inflation could threaten the recovery itself by making consumers turn cautious and reduce the spending that has been lifting the nation out of its slump...