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Meanwhile, another shocker on prices provided further evidence that after just five months, the President's Stage II anti-inflation effort is flagging. In March wholesale prices zoomed 1%, or at a compounded, annual rate of 12.7%, the same as in February. Leading the price index was food, which jumped 1.2%, with particularly severe rises in beef and veal. So far this year, beef prices have increased at an annual rate of more than 100% and are expected to remain oppressively high for the rest of the year. The standard Administration forecast calls for inflation to moderate...
...main sticking point is the cost of living clause. The industry has offered the drivers a boost equal to 65% of the rise in the Consumer Price Index, to be paid on an annual basis. The final payment would not be made until the fourth year and would not be counted in the three-year package. The union insists on getting the increase twice a year, with the next-to-final payment falling due in the third year. That would lift the overall settlement two percentage points above what the Government is willing to accept...
Despite the basic agreement on wages, the negotiators were unable to settle other critical issues, chiefly whether cost of living increases would be paid annually or semiannually. The truckers had agreed to an annual raise equal to 65% of the rise in the Consumer Price Index. The union wants semi-annual increases, which could add a few percentage points to the overall cost of the contract...
...pattern: In the Washington Post Index for 1972, three articles appear under the "Food Supply" heading. In 1973, there are 100 "Food Supply" articles. In 1974, 120 articles. In 1975, 36. In 1976, 46. In 1977, 28. In the Los Angeles Times Index, two articles appear under "Food Supply" in 1972. In 1973, there are 62 articles...
...Chicago Tribune follows the same pattern. In its 1972 Index, there are two "Food Supply" articles, 47 appear...