Rising prices dominate week with steel boosts and CPI shift
Bethlehem Steel announced a 4 to 5 percent price rise next year, signaling broader price hikes across construction and auto manufacturing. The Labor Department reported consumer prices rising 3.6 percent annual rate last month, while lumber prices face government pressure. Major steel firms including U S Steel Republic Steel Armco and Jones and Laughlin followed Bethlehem’s move, signaling an industry wide trend. Deputy Price official Peter Carpenter warned action against price control violators.
MENTIONED IN THIS ARTICLE
Peter Bere
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Peter Carpenter
Labor Department
Nixon
U.S. Steel
Republic Steel Corp
Armco Steel Corp
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Local Markets Prices Reported Wednesday
Prices for wheat 2.03, corn 1.32, rye 2.29, beans 3.45 and oats 0.75 per bushel or unit. Market update notes steady movement across staple grains with no major shifts reported.
Dow Jones Averages Range From Weekly Close
The report lists closing ranges for the week across sectors including Industrial, Trust, Utilities, and other indices. Noted figures show highs and lows with single day net changes, highlighting modest movement in several groups. The data includes specific values for Dow Jones Industrial Average and related averages.
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