CHAPTER 8
Consumer prices in the non-Communist industrialized countries rose by an average of 13.5% in the year ending Aug. 31, the Organization for Economic Cooperation and Development reported Thursday….
Among the OECD members, Iceland had by far the highest inflation rate with a 41.1% average… Four other countries—Greece, Turkey, Portugal and Japan—had inflation rates just over 25%….
In all countries, inflation was running two to three times as high as the average increase in the 10 years prior to 1971.
The annual rate in the United States was 11.2%; in Canada, 10.8%, and in Australia, 14.4%.
Rates in other European countries were France, 14.5%; Italy 20.4%; Britain 16.9%; Belgium 14.6%; Denmark 16%; Ireland 17.9%; Finland 16.5%; Spain 15.3%.; and Switzerland, 10.5%.
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