THE ECONOMY: Onward & Upward

After edging up all spring, the U.S. cost of living has reached a record high and is expected to go higher. In June, the Bureau of Labor Statistics reported last week, the Consumer Price Index (1947-49 = 100) took its biggest monthly spurt in nearly five years—0.7% over the previous high of 115.4 reached in May (and equaled once before in October 1953)-Chief reason for the spurt: a sharp (2%) rise in food costs, partly seasonal. Said BLS Commissioner Ewan Clague, who saw no signs of inflation in the jump: the index "will probably creep up a little more,"...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!