THE ECONOMY: Up Again

Inching upward for a fifth straight month, the Government's fever chart on living costs touched a record 114.7 in mid-July (base: 100 for average prices in years 1947-49). Reason: increased rents, some higher food prices (pork, poultry, eggs, fresh milk), higher costs of medical care and transportation. Result: 1¢-an-hour wage raise for a million aircraft and automobile workers, whose pay is tied to the cost-of-living index.

Treasury Secretary Humphrey took the report without flinching. Said he, noting that the increase is only a fraction of a point over the mark of twelve months ago: "That is a most eloquent demonstration...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!