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Signs of Growing
Affluence Here
If Rappahannock County residents were to total their living expenditures for the past year and discover, as is probable, that they were more than twice as big as they were 15 years ago, their immediate conclusion would be “inflation.”
But, according to a recent study by the Federal Reserve Bank of Chicago, they would be wrong. They would be barking up the wrong tree.
It appears, from the bank’s figures and from a Commerce Department survey, that most of the increase is attributable to an advance in living standards.
The finding is that some 60 percent of the rise in family budgets in the 15 years has been
66.8%