One of the baleful aspects of the industrial world's quickening economic upturn is the possibility of a resurgence of global inflation. That worry dominated the recent conference of President Ford and heads of government of six other industrial nations in Puerto Rico (TIME, July 12). One reason for their concern: an ominous new rise in the prices of industrial and agricultural raw materials, which, among other things, is making the morning cup of coffee an inflationary drink.
The skyrocketing cost of iron ore, copper, fibers, foodstuffs and other non-oil commodities contributed more than anything...
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