Like ripples from a pebble dropped in water, the war's effects last week spread in ever widening circles through the U.S. economy, stirring a mild backwash of inflation. All over the U.S. prices were shooting upward. Last week alone, tires went up as much as 12½%, tin rose 15¢ a Ib. to 97¢ in New York, cotton futures soared $10 a bale in one day. Overall wholesale prices bounced higher; the Bureau of Labor Statistics reported a week's rise of 1.8% in its wholesale price index.
Consumers were doing little to help keep prices down; their growing rush to stock up...
To continue reading:
or
Log-In
