Prices: Housewives' Beef

Inflation, which has smashed wage guidelines, sent interest rates to record levels and jacked up a host of indexes, has claimed another victim. Because the farm price index has reached a 17-year high, the retail price of food, which is what irritates people most about inflation, will continue upward. Last week the Agriculture Department reported that prices received by farmers rose 4% during the month ending May 15, and were 8% higher than a year ago. The meat index rose 9% during the month. Prices received by farmers for vegetables jumped 25%, while the dairy product index exceeded that...

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