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Living Costs Rise Bolsters Call for Tax Increase
The government reports a 0.2 percent rise in consumer prices and ongoing cost pressures, strengthening President Johnson's case for a 10 percent income tax surcharge. Inflation outpaced wages, with a six month rise at an annual rate near 3.6 percent if continued, despite some relief from lower grocery prices. Used car prices also rose, reflecting tight inventories and hesitancy to trade in older vehicles.
MENTIONED IN THIS ARTICLE
Associated Pres
Washington
Johnson
Arthur M. Ross
Bureau of Labor Statistics
Ross
Bureau
U.S
Congress
Arnold Chase