Archive Report
Archive Report
Outlook for Relative Stability in 1954
Small Loss of Dollar Buying Power in 1953
Despite the new “all-time highs” registered by the consumer price index for most of the months of 1953, which resulted in wage increases for some three million workers covered by escalator clauses in union contracts, the overall increase in the cost of living during the year was no more than one per cent and the loss in purchasing power of the dollar was less than one penny. As the year 1954 began, prices of goods and services needed by the average family gave every sign of having reached a point of stabilization. The present level is approximately 15 per cent above the average for the first six months of 1950, before the ...