INFLATION: It's Worse in Europe

Americans who complain about the high cost of living can take some solace by looking at Western Europe. There, prices are rising almost twice as fast as in the U.S. Like a pernicious plague, inflation infests the whole Continent; it is damaging living standards and shaking governments. The annual rate of rise so far this year averages 6% in the Common Market, and in Spain is leaping at an incredible rate of 1% a month. The cost of food is particularly oppressive. Parmesan cheese is up 17% in Italy, beef has risen 19% in The Netherlands, potatoes have jumped...

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