Stable Prices

Despite the comeback of U.S. industry, signs of more inflation have yet to appear in the economy. The Labor Department reported last week that the consumer price index, which fell in August, stayed level in September, at 123.7% of the 1947-49 average. The Commerce Department also found the upturn still going strong. It noted that "the more volatile indicators have been advancing for several months, and those which usually lag are now showing signs of improvement." Items:

P: The nation's department-store sales for the week ending Oct. 18 were up 6% from a year ago, bringing sales to date in 1958 even with the same period for 1957.

P: Freight carloadings by U.S. railroads touched another new high for the year for the sixth straight week in a row, reached the highest since Nov. 2, 1957.

P: The slump in U.S. foreign trade during the first half of 1958 now appears to be leveling off, reported the Commerce Department. Trade with Latin America may be headed for the highest rate of any year except 1957.

P: U.S. machine-tool orders showed a 10% rise in September from August, though down considerably for the year so far.

P: September factory sales of home-laundry appliances made a 34% gain over August sales, and TV set makers shipped more receivers to dealers in August than in the two previous months.

P: Steel mills were producing at a scheduled 74.8% of capacity, a new high for the year and more than half a point above the previous week. Prospect for the fourth quarter: 85% of capacity.

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