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November 16, 1987

Yugoslavia's Parliament voted to increase food and fuel prices by between 33% and 69% and immediately imposed a freeze on wages and prices of other goods in a desperate effort to curb the nation's soaring inflation rate. The government estimated that the price increases for such items as bread, milk, cooking oil, gasoline and electricity would raise the cost of living by 18%. Deputy Premier Milos Milosavljevic told Parliament that the government was forced to take the steps because the annual inflation rate had reached 168% and could reach 220% by January.

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