Word: halfpoint
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Whatever happens next, the U.S. economy will be hurt by what has already happened. The Morgan Guaranty Trust Co. estimates that oil prices in the U.S. will increase at least 15% by year's end. That would lead at a minimum to a halfpoint jump in consumer prices because oil is used not only for fuel but also as a raw material in chemicals, synthetic fibers and many other products. Rising fuel charges also will prod workers to demand more pay, which businessmen will pass on in higher prices. And as more dollars flow abroad, the greenback...
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