PRICES: New Surge in Groceries

When farmers brought in the most abundant harvest in U.S. history last fall, the Nixon Administration confidently predicted that agricultural supplies would finally be ample enough to slow down the year's runaway food prices. They were right—for a while. But suddenly all of the forces that drove up the cost of eating in 1973 so relentlessly are at work again; foreign demand for U.S. agricultural products is running higher than expected, for example, and the cost of livestock feed has risen sharply. Just for good measure, the energy crisis has added...

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