THE ECONOMY: Inflation, Creeping

Perhaps because it came the week after the income-tax deadline and in the still-blazing afterglow of the Humphrey flap over federal spending, the Federal Government's latest report on another rise in the cost of living curled the hair of many a U.S. businessman and wage earner last week.

Highlights of the report, released by the Bureau of Labor Statistics: between mid-February and mid-March the U.S. consumer price index (1947-49 = 100).jumped 0.2% over the previous period, to an all-time high of 118.9. The increase, seventh consecutive one in as many months, brought living costs 3.7% over what they were a...

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