Inflation Rate Hits 2-Year High: Statistics Agency Sees Slower Growth
Spurred by hig increases in mortgage interest and doctorsÛª fees, the consumer price index matched its biggest gain in two and a half tears in July. But a government spokesman predicted the present 1.3 per cent rate of annual inflation will begin to recede this month.</br></br>j ties said 'hr index rn-r half of 1 per eon; Iasi month, dupli-eating the June mereases for ! the sharpest two month advance in 11 years</br></br>Price increases and the Federal income tax increase more than offset wane unins and a lonuer work week to reduce</br></br>I and services that cost the pub- million private, non-farm pay-lie S10 a decade ago not takes roll workers.</br></br>At $75.25 in 1557 55 dollars, tiie real take home pay of a worker with three deixmdents in July was 44 per cent above a year ago but still a hit below ÛÏ1 don't anticipate that this rate of increase will continue." Assistant Commissioner Arson ably clear dial price increases will begin to down."