DISCUSSING THE ECONOMY
1--The economic news doesn't look good, does it?
2--Not according to the newspaper yesterday. I saw a similar report last night on TV.
1--I saw that, too. The analysis seemed to be quite realistic.
2--I hope they're wrong. We really need to get the rising price structure under control.
1--Well, costs seem to be rising in so many categories 
that it appears to defeat any efforts at stabilization.
2--That's my feeling, too. Raw material now costs more. Labor is demanding higher wages and production costs continue to soar.
1--There may be some relief this summer. I understand the price of some foodstuffs will decrease.

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注解
1）economic news:报道经济形势的新闻
2）Not according to the newspaper yesterday: 这是一个省略句。=It doesn't look good according to the newspaper yesterday. according to是复合介词。意思是"按照"、"根据...所说"。
3）similar：类似的、相似的。
4）analysis：分析，复数是analyses,动词是analyze.
5）get...under control：对...加以控制。类似的短语有bring...under control/keep...under control/lose control of sth./(sth.)get out of control.
6）categories：种类，范畴。
7）defeat any efforts:是一切努力归于失败；（使）前功尽弃
8）stabilization：稳定；安定，动词是stabilize,形容词是stable.
9）labor：指从事体力劳动的工人阶级整体。注意英国人的拼法是labour.
10）soar：巨增；猛涨。
11）relief:减轻；缓解。
12）foodstuffs:各种食品。
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译文
1--经济形势看起来不妙，是吧？
2--据昨天的报纸看是不怎么妙。昨晚我在电视里看到了
类似的报道。
1--我也看了。那个分析。
2--我但愿他们是错的。我们确实需要控制物价上涨。
1--哦，各行各业的费用都在上涨，看来保持稳定的一切
努力都难以取得成效。
2--我也有同感。原材料贵了。工人要求增加工资，生产成本猛涨。
1--今年夏天也许会有所缓解。我听说有些食品的价格会下跌。===================================