OUTLOOK: Pushing Ahead

From various quarters last week came a barrage of statistics indicating that the recovery, though still dogged by worrisomely high inflation, is making steady progress. The key reports:

≫ Consumer prices rose at an annual rate of 8.7% in October, a clear backsliding from the September pace of 6.2%. But the biggest jumps were in meat and dairy products, which are not likely to rise so sharply in coming months. Indeed, Department of Agriculture economists reckon that in 1976 food prices overall should go up by 5%, compared with a 9% climb expected...

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