One of the worries the nation cannot shake is that the quickening economic recovery will be accompanied byor perhaps causea rekindling of inflation. Last week that fear became considerably more chilling. The Labor Department reported that the Wholesale Price Index jumped at a startling compound annual rate of 15.4% in July, paced by higher farm and processed-food prices. Although the index bounces around erratically from month to month (it declined a shade in June), there is no reason to think that August figures will be much better. The latest report covers only part of the surge in grain prices...
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