PRICES: The Happy Farmer

Despite the rollback on auto prices and hints that prices in other industries may also be controlled soon, food prices continued to skedaddle gaily upwards (see NATIONAL AFFAIRS). But though food comprises a big 40% of the Government's cost-of-living index (v. 4.8 for autos), there was little talk in Washington about slapping on mandatory controls. Reason: there was nothing that Price Stabilizer Michael DiSalle could legally do to stop the rise in most foods.

When Congress passed the Defense Production Act, which provides for wage & price controls, the farm bloc built high food prices into the law by exempting...

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