PRICES: Parity Regained

Ever since the start of war in Korea, U.S. farmers have had a price advantage over other citizens. The prices they got for their products went up faster than the prices they had to pay for goods they bought. Last week the Agriculture Department reported a marked change. In mid-February, for the first time in nearly two years, the average of all farm prices stood at parity, i.e., agricultural prices were in balance with industrial prices.*

Part of the change was caused by a slight rise in industrial prices. But most of it was due to a 4% drop in...

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