State of Business: The Price of Prosperity

While most other nations are battling inflation, the U.S. has enjoyed relatively stable prices for six years. Last week a round of price hikes in several key industries raised some doubts about how long this will continue. Youngstown Sheet & Tube tested the steel market by posting an increase of 4%, and by week's end almost all the major steelmakers had followed with boosts that covered one-third of the industry's output. At the same time, industry leader Alcoa joined in price hikes that have raised the cost of aluminum as much as 3½% , and two major plate-glass makers...

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