Word: pitter
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Dates: during 1950-1959
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Last week the Chicken Little economists were running about the U.S. shouting cries of alarm. "Catastrophic inflation" is coming, they said, and quickly. To be sure, they had felt more than the ping of a single acorn. Since the start of the Korean war, there had been a slow pitter-patter of inflation. Prices had risen sharply, followed by wage boosts which threatened still further price hikes. And last week more acorns hit: auto prices started going up again (Hudson, Kaiser-Frazer, Willys, Packard and Nash boosted prices from $10 to $127), and two small steel producers hiked their prices...