Word: costs
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Dates: during 1970-1979
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Much of the June rise was fueled by the continuing surge in oil prices; this helped push up transportation costs during the month at an annual rate of more than 22%, largely because of the rocketing cost of gasoline, which soared at a rate of 92% a year. By contrast, clothing costs declined slightly, while food, the other big-ticket item in the family budget, rose by only 0.2% for the month. Testifying before Congress's Joint Economic Committee last week, Alfred Kahn, the White House's chief inflation fighter, argued that if it were...
...last week conceded that prices would probably climb by about 11% during the year, just about the same as in 1978. Unanticipated large-scale Soviet grain purchases in the U.S. market are part of the reason, but food prices will also rise because of the escalating cost of petroleum products used by farmers and food processors...
...widely available in Brazil in an even richer mixture of 20% ethanol and 80% gasoline. Now, however, a number of alky-boosters are touting the virtues of using the ethanol undiluted. Besides being out of OPEC's control, the fuel can be made in backyard stills that can cost as little as a few hundred dollars to build and almost nothing to operate...
...Energy Department study has concluded that by 1982 the use of gasohol will have spread to the point where it will be supplanting about 3% of gasoline consumption. As output of alcohol rises to meet demand, its high cost-commercially distilled pure alcohol now sells for as much as $1.85 per gal.-will come down, making the price competitive with gasoline's. Eventually, alky fans hope, the U.S. will catch up with Brazil: by the early 1980s some 15% of all automobile fuel used there will be straight alcohol...
Unofficial estimates put construction costs at about $375 million, or less than half the totals for both Munich and Montreal. While refusing to give an official cost estimate, the Soviet government does say that income from sports lotteries, tour ism, commemorative stamp sales, souvenirs and television rights should more than cover building costs. The Soviets also point out that all the new Olympic facil ities will be put to good use after the games. The Olympic Village (see box), for example, will become a housing project for 12,000 lucky citizens. Indeed, the 1980 Olympics will be not just...