Word: peak
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...consumer spending. Wholesale prices in May rose .4%-high by historic standards but modest compared with the 1.5% increase in April and a far cry from the rates of last year. In the past three months, wholesale prices have climbed at an annual rate of 5.5%, compared with the peak rate of 35.3% in the three months ended last August. Businessmen's borrowing costs are also coming down. Manhattan's First National City Bank, which usually sets the pace for other major institutions, lowered its prime loan rate a quarter point, to 6¾%, v. 12% last July...
Died. Steve Prefontaine, 24, fast-finishing long-distance runner; of injuries suffered in a midnight auto smashup; near Eugene, Ore. Holder of every American track record above 2,000 meters, the fiercely independent "Pre" was the leading long-distance contender for the 1976 Olympics and was only beginning to peak as a runner...
...United States. The development which would have pleased Kissinger most then was a modest but definitive Israeli defeat. With this in mind, he and Secretary of Defense James R. Schlesinger '50 limited arms shipments to Israel during the first days of the war, while Egyptians were performing at their peak level...
...Athletics and Boston Red Sox from 1925-41; of an apparent heart attack; in Norwalk, Ohio. With his searing fastball, Grove regularly humiliated the most feared batters of his day, including Babe Ruth, whom he held to just nine home runs in ten seasons. Grove's two-season peak of 59 wins and only nine losses in 1930-31 remains unequaled, and so, for that matter, does his sizzling temper. Lefty often loudly chewed out teammates as "hitless wonders" after close losses, or "butterfingered s.o.b.s" when they committed errors. Just before he retired at 41, in 1941, he became...
...prices for such staples as copper, rubber, cocoa, coffee, platinum and cotton rose sharply; some had doubled or tripled by mid-1974. But after the oil crisis helped push the West into recession, commodities prices tumbled, in some cases to a third of what they had been at the peak. Copper, for example, rose nearly 300% in 17 months, peaking at $1.40 per Ib. a year ago; this month the price fell as low as 560. The roller-coaster performance took its toll on producers and consumers alike. The price upswing aggravated inflation in industrialized countries. The downturn sent shock...