Nation: Picking Up the Wishbone

THE nation's long war of attrition against inflation has proved as intractable as the war in Viet Nam. Last week the rise in the consumer price index for May came out at an annual rate of 6%, the same as April and roughly the plateau on which it has been stuck since the start of the year. But steel prices, which had risen steadily, began to level off, and the price of consumer services began to soften a little. Most principal indicators continued to show bad news. Interest rates remained high. The national unemployment...

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