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Economy / Prices / Gasoline / Auto Industry #246046

CBS Evening News for Friday, May 21, 1976
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(Studio) Consumer prices up .4% in April.
REPORTER: Walter Cronkite

(DC) Food prices up .6% in April. Pork, poultry and fresh fruits and vegetable prices up. Beef prices down slightly. Rents,med. and transportation services incrd. slightly. Chart shows effects of inflation on worker from 1973-76 and on worker's buying power.
REPORTER: Nelson Benton

(Studio) Auto industry benefits from lower gasoline costs.
REPORTER: Walter Cronkite

(Detroit, Michigan) [Chairperson General Motors Corporation Corporation Thomas MURPHY - notes auto industry recovery.] GM sales up 44% in 1976. There is renewed demand for big cars. 207,000 Oldsmobile Cutlasses made since January; customer demand still not satisfied. [Auto dealer Earl HORN - notes demand for larger cars.] Gasoline consumption up 10% over last year [Senior editor "Platts Oilgram" Herbert HUGO - says there will be gasoline shortages.] Some auto plants rehiring to meet demand for larger cars.
REPORTER: Chris Kelley

Reporter(s):
Benton, Nelson;
Cronkite, Walter;
Kelley, Chris
Duration:
00:04:00

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