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...averaged 6% above the same period in 1955, more than offsetting the slump in car sales. Wholesale prices and the cost of living seem certain to edge even higher when 1,250,000 union workers collect automatic raises as a result of June-July advances in the consumer index. After raising price tags a record $8.50 a ton in June, steelmen are already talking up another boost. The -auto industry, setting its sights on a near-record 7,000,000-car year in 1957, may drive consumer credit to new peaks. An increase in defense production, which generates spending power...
...shock was the lack of privacy; each of 200 cells was semi-partitioned with thin cotton hangings, contained only a chair, a table and a straw pallet on wooden planks. It was a world without mirrors. There was sign language at meals to preserve silence. Down-hooked middle and index fingers said, "Fork, please"; two humble taps on the breast said, "Excuse me." One of the strange episodes was the shearing of the lambs: "Postulants from a previous group were seated on wood benches over which presided three nuns with clippers and shears. The heads were already clipped bare...
...bigger-than-seasonal rises in fruit and vegetable prices, promises to take another bite out of the dollar. As a result of the cost-of-living increase, 1,250,000 union workers will automatically receive 3? to 5? hourly wage raises under escalator contracts geared to the price index, thus 1) increasing the cost of the products they make, 2) encouraging higher wage demands by other workers, and 3) stoking up prices by pouring new money into the consumer market...
...aluminum (1? per lb.). the adjustment in most cases also covered increases in wages, fringe benefits, raw materials and freight rates which had been nudging up production costs long before last month's steel strike. Led by a jump in food bills, the consumer price index, which since May 1953 had remained steady at around 114-115 (based on an average of 100 for the years 1947-49), started an uninterrupted rise in February, passed the alltime peak of 116.2 last June−and kept climbing...
Medical costs have been rising faster than any other item on the cost-of-living index, according to the Bureau of Labor Statistics. A patient must now pay 25% more for treatment than in 1950, as compared to an 8% rise in the overall price index. At the same time, benefit payments from health-insurance programs are running a fifth higher this year than last, are expected to go well beyond $2.5 billion. All told, reports the Health Insurance Council, some no million Americans are now covered by hospital insurance−6% more than were covered last year, nine times...