Erratum: Inflation: Its Mechanics and Welfare Costs

1975, No. 3

In figure 1 of Arthur M. Okun, “Inflation: Its Mechanics and Welfare
Costs,” BPEA, 2:1975, pp. 374-75, the wholesale price index of sensitive
industrial materials (except fibers) (bar D) for the period 58:2 to 59:2
should have been plotted to show an increase, rather than a decrease, of
about 8 percent.