ABC Evening News for Wednesday, Jun 21, 1972
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(Studio) Cost of living takes precedence over war as election issue; rises .3% in May due to clothing, cars, and gasoline hikes. Food prices down.
REPORTER: Howard K. Smith
(DC) Labor Department statisticians not consoled by food price drop as they are expected to increase this month [Cnsl. Econ. Advisers, Marina WHITMAN - says all alternatives considered in effort to reduce food price increases.] President Nixon meets with economy advisers. Encouraged that inflation has bean slowed to less than 3% annual rate since controls imposed. Price Commission considers imposing control on farm prices.
REPORTER: Stephen Geer
(Texas) Cattle ranches in real danger; profits low. Cattlemen blame middlemen for high cost of beef. Secretary Agriculture Earl Butz confirms it costs 50% more to run a ranch now than 20 years ago, but cattlemen receive about same amount for beef. [Cattle Raisers Association president, Bill DONNELL - says cattlemen need price as incentive to stay in business.]
REPORTER: Bill Wordham
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