Word: indexable
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Though the price rise in food (1 % ) was the biggest single item on the index, TIME correspondents around the U.S. found that the nibbles that niggled most were such major items as increased medical costs (up in Atlanta 4.5% over last year) and dozens of minor expenses, e.g., shoeshines (up 10? to 35? in Sacramento) and haircuts (up 25? to $2 in San Francisco). Everywhere, middle-income families felt the pinch of such pressures as rising commuter fares, real estate prices, taxi taxes, pipe tobacco and cigar taxes, real estate taxes, school taxes, gasoline taxes. The state of Washington alone...
...game that any number could play, and there was scarcely a U.S. family last week that did not feel the cold muzzle of rising prices pressed against its pocketbook. Officially, the news was told in plain statistics: the Bureau of Labor Statistics announced that the consumer price index had risen an average .4% between the end of May and the end of June, bringing the index factor to an all-time high of 124.5 (1947-49 average...
...result of stronger demand for Canadian raw materials in the bullish U.S. recovery, Canadian exports to the U.S. surged to $321.1 million in June (v. $233.6 million in June 1958), and overall exports were up to a one-month record of $519.9 million. Canada's index of industrial production is up 7% over last year, and industrial capital investment is now expected to reach $8,545,000,000 by year's end-2.7% higher than Ottawa forecast at the beginning of the year. The economy of Canada, along with that of the U.S. (see BUSINESS), has climbed...
...with a yearly raise of about 15? an hour, plus a cost-of-living escalator clause. Management's counteroffer: either 1) a one-year extension of the present contract with no wage boost and abolition of the present escalator clause that ties wages to the cost-of-living index, or 2) improved pension and insurance benefits, plus a "modest" wage increase next year, in return for union concessions on work rules...
Watching these developments, Wall Street began to sweat. Major steel shares worried off several points, and the Dow-Jones index of industrial stocks dipped from 663.56 to 657.13-despite the fact that steelmakers are expected to report high earnings in the next fortnight. To others, the strike was a cause for joy: foreign steel producers heavily stepped up steel shipments to the U.S., hoped to make strong inroads at the idling industry's expense...