Despite the talk of inflation, U.S. prices are remarkably steady. The Bureau of Labor Statistics wholesale-price index last week stood at 119.4% of the 1947-49 average, a shade above the December level and only a fraction above a year ago. Several major raw materials even registered sharp decreases. Lead was marked down from 12¢ to 11¢ per Ib. when the metal piled up despite import quotas. Because of a worldwide glut in oil, British Petroleum Co. lopped 18¢ per bbl. off the price of Mideast oil. Creole Petroleum cut 5¢ to 15¢ off the price of Venezuelan oil, and in...
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