INFLATION: Cracks in the Ceiling

The pressure on the price ceilings was nearing the bursting point. There had been little cracks in the ceiling before, and last week a real fissure appeared. The price of all raw fruits, protected by Congress, had gone up; Henderson's price ceiling on canned fruits had thus caught middlemen in a squeeze. So Henderson had to raise the ceiling 15%. To U.S. families, which bought some $225,000,000 worth of canned fruit last year, this meant a $33,750,000 boost in the food bill.

One such fissure would inevitably lead to another, until the entire...

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