Central Utahns can take some hope from the governments report Friday that wholesale prices fell six-tenths of one per cent in June. But don’t count too heavily just yet on plummeting prices at the supermarkets. Inflation still remains a formidable foe and bas a way of marching on despite intermittent cheerful signs. Besides, the cheerful news on the price front was neutralized somewhat by a companion government report that unemployment in the country rose from 6.9 per cent to 7.1 per cent in the same month. Actually the news of the price drop could indeed hold some significance because it Slicmg the Kuruis The high price of gold has gi-ompted a proposal that the ederal Trade Commission amend its rules to allow jewelry of less than 10-karat gold content to be called ‘ggold,” just as if it were a solid karats. As currently worded, the FTC rule allows that designation only for allovscontaining 10 karats of gold or more. The suggested change comes form the jewelry industry, thougth not all manufacturers of bau les, bangles and beads are supporting it. The FTC, which has invited public comment on the proposed amendment before July 6, says that anything less than 10-karat gold wil have to be tagged with this waming: “Gold alloys of less than 10 karats can be expected to tamish and corrode.” If milady’s wrist may turn green from the item she certainly should be put on notice. But a warning tag – doubtless in fine rint – strikes us as a latter-day Form of alchemy. Call it “neargold,” if necessary, but call it what it is. represented the biggest decline in nearly four years. The May report had pavedthe way somewhat for the June trend as consumer prices rose by “only” 0.6 per cent. This climb was more moderate than the 0.8 per cent increase in April and the full 1 per cent jump in February, but hardly seems like anything to be satisfied with. On an annual basis, the May figure works out to an increase of 7.2 per cent, which is too high for economic good health. For the entire year, the White House economists forecast a rise in consumer prices of 6 to 6.5 per cent. Their target, even if achieved, is historically above average for the country and would be dangerous if sustained for several years. For example, while 6 per cent inflation is less scary than the double – digit version of the recent past, it would cut the dollar’s value in half in about seven years. Wholesale prices generally presage prices consumers pay and the effects of the June decline could first show up at the retail grocery counters following several months of rapidly – rising food prices. Farm prices declined 6.3 per cent in June, their biggest monthly dip in three years, to pace the over-all June wholesale price drop. The Labor Department said prices declined for every major category of farm products except milk. There was also some slightly encouraging news in prices of industrial commodities, which rose just three – tenths of 1 per cent duringthe month, the smallest increase so far in 1977. So, inflation – weary, Central Utalms, take a little hope, but don’t celebrate just yet. Inflation – built-in, persistent, and endemic – remains the single most serious threat to the nation’s economy, and it must not become a matter of complacency.