Word: indexed
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Dates: during 1970-1979
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...assurance is the net effect on economic activity of the huge changes in oil prices and taxes being proposed by Ford to help solve the energy problem. The increase in energy taxes could amount to $28 billion and over an 18-month period could raise the consumer price index by as much as five percentage points over what it otherwise would have been. If the general inflation rate does not abate, that could prove an exceedingly high?and probably politically intolerable?price to pay to achieve a negotiable measure of independence from imported...
...consequent leap in the consumer price index. A Senate staffer involved in energy policy claims that Ford is submitting "an unworkable program that can't be enacted." The Administration; he feels, is "out of touch with reality on the Hill...
There have been periods recently when economic bulletins sounded like excerpts from an Ionesco notebook. Within a few days, the Wholesale Price Index drops a notch while consumer prices rise again. Unemployment hits a new high and the stock market rallies perversely. Assorted experts prescribe contradictory cures while Government officials shuffle a deck of options. How does a conscientious reporter or editor convey the meaning of it all? Not very well, in all too many cases...
...that would embarrass even an undergraduate economics major. Few reporters note that current unemployment figures are not strictly comparable with those of earlier years because Government statisticians in the 1960s changed the way they define the work force. Similarly, many publications and broadcast outlets trot out the consumer price index monthly as if it accurately reflected everyone's inflation burden today. In fact, it reflects a market basket of goods and services required by less than 50% of all Americans. The base period for comparison purposes is now 14 years old, and the Bureau of Labor Statistics is working...
Earlier, the Commerce Department disclosed that its index of leading indicators, which is designed to project future economic trends, fell 1.5% in November and 7.3% since July-the steepest five-month drop in a quarter-century. Boding ill for consumer confidence in the months ahead, a new survey by Pollster Louis Harris reported that 80% of the American people now believe the U.S. is in a recession, and 60% see it continuing through the rest of the year. To combat the worsening economic problem, President Ford at week's end signed legislation appropriating $4.5 billion for unemployment...