Business: Prepping for Stage Two

A tough call coming up for Carter on inflation

A bittersweet flavor laced the economic news last week. On the good side, the consumer price index, after racing ahead at an average annual rate of 10.8% in the three months ending in June, slowed down a lot in July, chiefly because of a drop in food prices. On an annual basis, the index rose only 6%, the smallest increase since December. Unemployment also dipped, falling to 5.9% in August from 6.2% the month before. The bad news was that after months of steady improvement the nation's trade deficit in July came in...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!