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...What about OPEC arguments that a big oil hike is justified by inflation in the prices of Western goods that oil producers buy? "The OPEC figure of a 26% rise in prices of goods we import from the West is not correct. If you take the [International Monetary Fund] index, the rate of such inflation is less than...
...Eastern Europe. Last week Soviet Party Boss Leonid Brezhnev flew to Belgrade-his first journey to Yugoslavia in five years. The effusive Brezhnev greeted Yugoslav President Josi f Broz Tito with three kisses and an exuberant bear hug. This was one more Slavic smooch than usual -perhaps an index of how anxious Moscow is to improve relations with the independent Yugoslavs. At an official dinner at the Federal Executive Council Building, Brezhnev ridiculed as "fairy tales" the widespread fears that Moscow would attempt to interfere in Yugoslav affairs after the 84-year-old Tito dies. Brezhnev also belittled the notion...
Peculiar Inflation. If successful, this approach would markedly lower the inflation rate. A 6% wage guideline would be 1½ points lower than pay boosts have lately been averaging. As for prices, the consumer price index rose slightly less than 4% in October, but over the past year it has gone...
...history. But Mrs. Gandhi is not yet satisfied with the results of her 20-point economic program initiated under emergency rule. Moreover, if she were to allow even the semblance of a free campaign, she would have to relinquish those special powers. In fact, the wholesale price index is up 10% in the past six months. Diehard opponents of her regime have gone underground. More ominously, there has been increasingly violent resistance to the government's aggressive family-planning program, which has caused rioting, resulting in some deaths in several northern cities and towns. Birth control has become such...
...eleven indicators available for the September index, the most disquieting was the layoff rate. Layoffs in the nation's factories increased from 1.3 for each 100 workers in August to 1.5 in September. The new figures tend to confute those (mainly Republican) economists who have argued up to now that the nation's high 7.8% jobless rate was almost exclusively a result of growth in the number of people looking for employment, rather than a consequence of employed workers losing their jobs. Among other leading indicators, new orders dipped and manufacturers cut the average work week...