Nation: Picking Up the Wishbone

THE nation's long war of attrition against inflation has proved as intractable as the war in Viet Nam. Last week the rise in the consumer price index for May came out at an annual rate of 6%, the same as April and roughly the plateau on which it has been stuck since the start of the year. But steel prices, which had risen steadily, began to level off, and the price of consumer services began to soften a little. Most principal indicators continued to show bad news. Interest rates remained high. The national unemployment...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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