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...trouble with their wives lately. The economists insist that figures show the pace of inflation to be slackening, but the wives reply that their weekly bills at the supermarket show no such thing. Last week the wives' viewpoint won a round. The Government announced that the consumer price index in July showed its most rapid rise since February, mostly because of that persistent ogre, climbing food costs...
...increase for all prices averaged 4.8% at an annual rate, with food accounting for almost two-thirds of the jump. Prices for fresh fruits and vegetables, which are not subject to controls, went up instead of declining as they usually do at this time of year. The index for meat, fish and poultry climbed even more. These prices have now risen 10.1% in the year since President Nixon proclaimed his temporary price freeze. As if things were not bad enough on the food front, the American Bakers Association reported that bread prices might rise 2? to 3? a loaf because...
Cambridge's crime rate has climbed steadily for the past ten years. Last year, the city had the nation's highest crime index for an urban area its size, according to the FBI. Most of these were crimes against property, rather than crimes of violence, with break-ins and auto thefts predominating...
SLOWING INFLATION. The latest consumer price index was 2.9% higher than a year earlier, and the increase is decelerating to an annual rate that should be closer to 2.5% by year's end. But food prices have gone up at a much faster 3.2%. Weekly earnings are up 6.1 % and, when adjusted for inflation, provide about 3.2% more real buying power than the paychecks of a year ago. Rating: good...
LIKE an army repeatedly assaulting an impregnable fortress, the Dow Jones industrial average last week mounted yet another attack on the magic 1,000 mark, and once more retreated. After opening the week by pushing to a 44-month high of 974, the index fell back to close at 966. Such performances have become almost routine, and a different specific cause can be found for each failure to crack 1,000. But one underlying reason is that Wall Street misses the massed investment firepower that mutual funds once brought to bear on the market. Throughout the 1960s, mutual funds, which...