Business: Economy & Business, Nov. 20, 1978

Will the first great test of Jimmy Carter's anti-inflation guidelines be posed by candy bars? At his press conference last week, the President was asked if he would "put the bite on" Hershey Foods Corp. for raising the prices of its chocolate bars, peanut cups, candy kisses and other products an average of about 9%. Carter solemnly replied that if the increase did indeed exceed his standards, he would "disapprove it strongly. We do have some persuasion that we can exercise."

Hershey insisted that it had not busted the guidelines, which call for firms to hold price boosts half a point below...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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