PRICES: New Reasons for Weariness

Inflation has become such a fact of life in the U.S. that many Americans have simply become resigned to it. The weary mood intensified last week with two bits of news: wholesale prices rose at a clip that threatened soaring prices for manufactured goods in months to come, and Ford Motor Co. raised prices on its 1974-model cars and trucks—even though it had signed an agreement not to do so. The Government's soon-to-be-defunct Cost of Living Council seemed powerless to stop the rise. Only the Federal Energy Administration appeared capable of vigorous anti-inflationary action. It accused Gulf Oil Corp....