Inflation

Is inflation dead? Or is it just hiding? Many Wall Street economists point to the 2.7% increase in consumer prices last year and project about the same for 1994 - 3% or less. Standard opinion sees little risk of higher inflation. Although bond and mortgage markets have retreated from the low rates of last fall, these markets, too, show few signs of rising inflation. Even some usually cautious Federal Reserve Governors have made soothing and optimistic sounds recently.