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...image as a strong leader. Rather than outline what he would try to do in the next four years, he contrasts his first-term record against the "Carter-Mondale" Administration. He asks voters, "Are you better off than you were four years ago?" and boasts that the "misery index" (the rate of unemployment plus the rate of inflation) has dropped from 20% to 11% in his term...
...Harris, 40, sticks to a tight budget and avoids stocking up on frills, the weekly grocery bill for her family of three has climbed from $80 to $100 in the past year. That 25% hike is nearly six times as great as the modest increase in the Consumer Price Index since September...
Consumers, however, do not know inflation as a single abstract statistic. To them it is a hundred prices that hit them daily. Raymond DeVoe Jr., author of a Wall Street market letter, compiles an annual trivia index of items on sale within a few blocks of his Manhattan office. Included on his 46-point list is everything from a Broadway ticket (up 23% over the past two years) to a session at a podiatrist's office (25%) to a local telephone call (150%). Says DeVoe of his findings: "They represent another reason why so many people remain unconvinced that...
...about 5%. On the day of the announcement, the British pound fell to a record low of $1.19. Shaken by the skidding currency and a possible worsening of the country's coal miners' strike, traders on the London Stock Exchange sent the Financial Times industrial share index to its steepest one-day loss in history...
Although they are now considered essential measures of economic performance, such vital yardsticks as the gross national product and the consumer price index have come into widespread use only in recent decades. During the 1940s economists made rapid strides in their ability to sift through the billions of transactions that make up economic behavior and distill them into key statistics that indicate the state of the economy. Few experts have been more crucial in turning the numerical potpourri into some kind of order than Sir Richard Stone, 71, who last week won the 1984 Alfred Nobel Memorial Prize in Economic...