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(Studio) Consumer Price Index up .4% in December, due mostly to higher food price; however, index shows gain of only 3.4% for 1971. Inflation down, Gross National Product up during last 3 mos. of 1971, although complete 1971 economy not strong enough to make dent in unemployment.
REPORTER: John Chancellor
(DC) [Council Econ. Advisors Chairperson Herbert STEIN - describes slight inflation resulting from transition of freeze to Phase 2 program. Says food prices up due to supply and weather conditions, and do not indicate continuing trend.]
REPORTER: Irving R. Levine
- Chancellor, John;
- Levine, Irving R.
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