Word: indexed
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Dates: during 1950-1959
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There is little doubt that the country has suffered from a stalemate in recent years. The rate of industrial growth (the index of industrial production in the year 1957 was 384: base--1950=100) has tended to fall off during the last two years while agricultural production showed no increase. These, among other factors, were responsible for a widespread feeling within Pakistan against the ineffectiveness of the then governments and the welcome accorded to the Revolution...
Commodity prices also rose during the week (the Dow-Jones spot index was up 2.40 points to 160.08, futures up 2.03 to 154.55) on the belief that Congress will boost support prices, causing an increase in overall agricultural prices. But, said Merrill Lynch, Pierce, Fenner & Smith's Commodity Expert Harry B. Anderson: "Last week's rise in commodity indices is only flash-in-the-pan buying. With most grains and raw materials in oversupply, inflationary pressures are not very realistic and will be difficult to sustain...
...Agriculture Department predicts most foods will be more abundant and cheaper in 1959 than this year. Big harvests this fall and higher supplies of poultry and eggs are already dropping some prices, the department reported. Said Ewan Clague, commissioner of the Bureau of Labor Statistics: "The consumer price index is likely to hold around current levels for the next few months. Inflation may turn out to be a problem in the longer run, but it is not an immediate prospect...
Despite the comeback of U.S. industry, signs of more inflation have yet to appear in the economy. The Labor Department reported last week that the consumer price index, which fell in August, stayed level in September, at 123.7% of the 1947-49 average. The Commerce Department also found the upturn still going strong. It noted that "the more volatile indicators have been advancing for several months, and those which usually lag are now showing signs of improvement." Items...
...reason businessmen do not expect to pay more for their materials is that most commodity prices, which are quick to reflect inflationary pressures, have remained steady. The sensitive price index for 22 primary commodities, for example, remains close to the lows reached last fall. Since wholesale prices usually foretell retail prices, this promises well for the consumer. Another happy sign for the consumer is that consumer prices actually declined last month. Most businessmen agree that despite price increases in autos and a few other items, there will be few shifts in price levels over the next six to twelve months...