Word: retailers
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Dates: during 1960-1969
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Vice President Hubert H. Humphrey will be in Boston today. He will address a 10:30 a.m. rally at Logan Airport, then move into Boston at noon for a speech to the National Association of Retail Druggists at the Sheraton Boston Hotel...
...election forecasts seriously enough to cast about for new gimmicks in a country where social reform seems to have gone about as far as it can go, and taxes about as high (in addition to income taxes averaging 30%, Swedes pay a painful 11% sales tax on all retail purchases). Last week Economics Minister Krister Wickman announced the Cabinet's intention to begin putting the state's huge pension funds in northern industries, a move that will give the government a considerably larger stake in Swedish industry than the 5% it now controls...
...indeed surprised almost everybody. "The consumer has confounded the forecasters by spending as much money after the tax increase as before," says Leif Olsen, senior vice president and economist of Manhattan's First National City Bank. That buying spree has been especially notable in autos, appliances and clothing. Retail sales not only jumped 3% in July to a record $29 billion, but climbed a bit more during August. Early figures for September indicated that shoppers were spending 9% more in the stores than they were a year earlier...
...rising 4.5% to 7% in July, a level more than 13% above that of July 1967. Despite such fixed-cost programs as Medicare, medical expenses were up 9% over July 1967, for the simple reason that doctors, dentists and hospitals are all charging more. Even though overall retail food prices rose only a smidgen, grocery-store prices were up a full 3% over the same month last year. Finally, July's traditional clothing sales brought prices down less than usual. The U.S. family budget this summer was obviously undergoing strains...
...government aims at holding price increases to 3% during the last half of this year. It is relying on what one Finance Ministry official calls "a battery of tools to regulate prices without actually enforcing price controls." Under the French contrat de programme, for example, thousands of industrial and retail firms have signed agreements not to boost prices beyond the government-specified 3%. Even so, some price gains have already overtaken the wage increases. The cost of draft beer has risen 10% in Paris, a loaf of bread now costs 120 instead of 100 (a 20% jump), and many restaurants...