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Inflation Clouds Retirees Dreams For Good Life
In Centralia a 70 year old couple, A Leroy Wooldridge and Nancy Ruth, live on a modest pension and fear ongoing inflation. They expect about $12,000 this year, but if wholesale prices rise 2.1 percent in May, their income could drop by about $1,000 by December. They cut back on clothes and beef, shelve trips to Brazil and Hawaii, and worry about savings and future costs. He urges price and wage controls and fears the Watergate scandal undermines a capable presidency.
MENTIONED IN THIS ARTICLE
Centralia
Middle America
A. Leroy Wooldridge
Nancy Ruth
Labor Department
Wooldridges
Wooldridge
Brazil
Hawaii