Inflation vacation

Broad measures for both intermediate and final goods continue to suggest that inflation will not pose a threat to the 7-yr-old economic expansion. Wholesale prices for “core” intermediate goods edged up only slightly by 0.2% in 1997 but are expected to rise by 2.2% in 1998. Machinery and equipment prices dropped by 0.5% in 1997 but should bounce back with gains of 0.6% in 1998.

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