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(Studio) Admin. reports cost of living rises 1.1% in Mar. Cost of living increases 10.2% from Mar. 1973 to Mar. 1974.
REPORTER: John Chancellor
(DC) [Cncl of Econ. Advisers Herbert STEIN - believes inflation began during Vietnam war.] Big wage increases named as culprit by some economists, resulting in wage, price controls. [AFL-CIO economist Nathaniel GOLDFINGER - thinks Russian wheat deal and devaluation of American dollar caused inflation.] Food prices now soar in US. Arab oil embargo has incrd. oil prices 4 times. [STEIN - says incring. wages to match inflation rate won't solve problem. Expects inflation rate to drop by yr.'s end.]
REPORTER: Irving R. Levine
- Chancellor, John;
- Levine, Irving R.
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