Prices: No Inflation

Economists, industrialists and ordinary family budget keepers for months have been nervously eying the price index, searching for the first real indicators of inflation after seven years of relative stability. Last week they almost found them. Three big shoe companies announced price increases of 4% to 5%; loading charges at many ports were hiked 5% to 12%; prices of glass containers went up more than 3%, and floor tile 5%. Tags on paper, sugar and chemicals also grew. Steel fabricators, pondering the new labor contracts with higher wages and fringes, hinted heavily of forthcoming boosts.

Many broader economic factors seemed...

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