Word: upcreeping
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Dates: during 1957-1957
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...Labor Statistics announced that its consumer price index had edged upward for the twelfth month in a row, with an August rise of .2 lifting the index to a record high of 121.0 (the 1947-49 average = 100) as compared with 116.8 a year earlier. Because of the relentless upcreep in prices, factory workers' average real wages actually shrank by nearly 1% from August 1956 to August 1957 despite an increase of $2 a week in take-home pay. And the U.S. inflation record, measured against the global scale (see chart), was moderate indeed...
Domestically, the phony cost-of-living index, artfully manipulated to conceal the inflationary upcreep, has finally burst through its ceiling, setting off an automatic 5.5% minimum wage rise for 800,000 employees. With every allowance for crop failures, the cost of Suez and the price of Algeria's billion-franc-a-day war, said Gaillard, France's "fundamental" trouble is that "for several years our internal consumption has been rising more rapidly than our production...