THE ECONOMY: Higher Cost of Living

The U.S. cost of living went up again in August, reaching the highest peak yet. The Bureau of Labor Statistics reported last week that its index (1947-49 = 100) increased from 114.7 in mid-July to 115 in mid-August, with meat, rent and increased New York City subway fares accounting for much of the rise (fresh vegetables, home furnishings and women's clothing declined a bit). In news accounts of the B.L.S. report, such headline phrases as "new high" tended to obscure the fact that over the past year the retail price level has changed very little: in August 1952, the...

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