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August 1970

Anti-Inflation Process Continues

by Norman N. Bowsher

The rate of inflation has accelerated since 1965, until in the past year overall prices have risen more than 5 per cent, Progress in reducing inflation has been very siow, both because the inflation was permitted to develop momentum from 1964 through 1968, and because a gradual approach has been applied in correcting it in 1969 and 1970.