ABC Evening News for Friday, Jan 21, 1972
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(Studio) Gross National Product for 4th quarter, 1971, rose 6.1%. Total for year, 2.7%. Cost of Living Index rose 3.4% in 1971, but up .4% in December
REPORTER: Howard K. Smith
(DC) Economic indicators explained. Food prices blamed for higher cost of living in December [Council Econ. Advisors, Chairperson Dr. Herbert STEIN - says higher food prices due to seasonal changes, not indicating continuing trend. Says price bulge comes from freeze transition to Phase 2 controls; should diminish in from 3 to 6 mos.] Controls will probably continue through year
REPORTER: Sam Donaldson
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