First, the good news: President Carter's friendly persuasion strategy for fighting inflation seems finally to be gaining momentum. Now, the bad news: inflation will probably get worse.
The consumer price index for April, due out this week, will be a "disaster," warns Barry Bosworth, director of the Council on Wage and Price Stability (COWPS). May's figures will not look much better, he adds, and prices will not start to level out until June at the earliest. Partly because of last winter's blizzards, food prices climbed 16.4% in the first quarter. Beef has jumped at an annual rate of 41 % since January,...
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