Prices: Not as Fast, Not as Fierce

The Administration may have quietly laid to rest its oft-proclaimed, oft-abused 3.2% wage-price "guideposts" last month, but it did not entirely give up the idea of restraint. As far as prices go, warned the President's Council of Economic Advisers, there are still plenty of areas "about which guidepost questions might be raised." The questions, and a flock of the old familiar Administration telegrams, flew last week in one of those areas: gasoline prices.

Two weeks ago several major suppliers increased the price they charge dealers by six-tenths of 1¢ per gal., or about 2.5%. Except on the West Coast, which has...

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