ABC Evening News for Monday, May 03, 1976
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(Studio) Agriculture Secretary Earl Butz says food prices won't go up much in 1976.
REPORTER: Harry Reasoner
(DC) Food prices up 4.5% in 1972; up 14.5% in 1973-74 and up 8.5% in 1975. Butz expects 1976 bumper crops. [BUTZ - expects 1976 food prices to rise 3-4%.] Agriculture figures released 2 weeks early. Agriculture spokesperson calls it convenience that IN primary is tomorrow; IN is Butz' home state.
REPORTER: Roger Peterson
(Studio) Butz says USSR will likely buy more grain this year
REPORTER: Harry Reasoner
(DC) Food prices down 2% in 1976. If they go up 4% in rest of year, annual rise will be 6%. Costs of commodities and services has risen. Consumer Price Index will start to rise if food prices up also.
REPORTER: Dan Cordtz
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