Inflationary Changes

Most economists looking ahead to 1970 expect the rate of inflation to slow as the effects of government's anti-inflation policies begin to show up in the prices of the goods and services each of us buys and sells. Inflation is defined as a sustained rise in some broad based index of prices, so the effects of the policies designed to slow the current inflation will not become apparent until the indexes show a slower rate of increase. In the less inflationary environment for 1970 that I and others envision, many prices will continue to rise but, on the average, the rise will be smaller than in 1969.