Show niUtatatesman 1 nflation makes HASHINTON wared 133 percent last k 1946 the biggest jump since Station helped cut a workers pay by more than the government said Fnpercent the Consumer more rose 12 percent in gee Index m-g- f member the largest monthly What's last year And there are nZggnects for immediate relief Alfred Kahn President Curt chief inflation fighter of 1979 The inflation litany these facts: LRetail energy costs skyrocketed 338 cents per gallon The jump on record energy was the largest costs went up 152 per-- Housing on record mit also the largest rise Mor-eg- e be Labor Department said k interest costs alone shot up H7 percent for the year and Octobe Shopping 45 percent from rough December Food and beverage prices rose and after several mon-- s 8 a US government spends $1 billion to $2 billion for each point rise in the CPI Kahn told Congress that "no one can honestly promise improvement" on the inflation front for many months to come In fact December's 12 percent rise was unsurpassed in 1979 l£ahn said OPEC's December oil price increase will show up with a vengeance in January's CPI report due next month And he said mortgage interest rates currently near 14 percent in some parts of the country will continue to inflate housing costs Even food after months of moderation reappeared as a villain to American pocketbooks in December rising at an annual rate that exceeds 13 percent But Kahn predicted that food prices for all of 1980 will rise “only" 7 percent to 10 percent That such a high rate of increase could actually reduce the overall CPI in 1980 is testimony to the indepth and scope of double-digi- t flation month-to-mont- 1 Thr it cn'im magic about trie sky trial rias fascinated man tor centuries Here triose who took tor adventure and tririve on accomplishment can feelings only few snare and none forget Just one flight at the controls of a sleek modern Piper arcral will awaken the spirit within you mat tongs to be tree Plymg it s more than uSI it S something something you do The view is incredible you experience 1 GQHIlBadCEEXD Solo in 30 days for only $329 crrrfflnTrni WEST WIND AVIATION ACHE AIRPORT LOG AN-- and housing the J V THE DARK STAB IN THE DECADES” COLLEGE BOWL Is coming to USU “THROUGH FEB 8 8 PM - 3 AM World’s C 752-595- 5 Index last year Without energy take-hom- Without Equal (SWEDCUD that cost $1 in 1967 -- The Labor Department reported and that the cost of housing transportation acof counted for about three-quartethe entire rise in the Consumer inflation pushed workers into higher tax brackets further e eroding their pay which fell 53 percent last year h A Private World (ESjoaBaanniDD :xr TTTTfrrM m am t Largest IceCream Sundae Mr USU All Night Dance tunes of the decades To the Candid Camera All Night Entertainment QUICK MOVIES: — Mickey Mouse — Blue Hawaii (with Elvis Presley) ' —Monte Python COMING: Mon Feb 4 Hage 5 above President Carter’s voluntary guidelines But that increase was offset by the 133 percent inflation rate and a slight reduction in hours worked the Labor Department said Moreover raises given to counter voiced renewed concern that wages which rose only moderately last year may begin rising faster in 1980 “The big question mark: Will wage moderation hold up with 13 increase percent in the CPI?” he said Average hourly earnings last slightly year rose 8 percent-on- ly Kahn 031131:0 -- Price last April through June q QUB percent moderation soared by 13 rcent in December -- Medical care was up 101 per-- Transportation costs leaped 182 percent with public transit up 394 percent during the last three months of 1979 a distressing sign or commuters and the elderly Consumers paid about $230 in December for the same retail item 98t At another point in his testimony Kahn described the 129 percent annual rate of increase in energy costs from October through December as “very slight that is when compared to a 70 percent annual rate of increase from of -- 1 highest increase since 1 946 CPI would have risen only nine percent last year Kahn told Congress' Joint Economic Committe The CPI reports the average monthly changes in retail prices for a fixed basket of goods and services ranging from food housing and energy to shoes vacations and tobacco In December it stood at 2299 compared to 100 in the base year of 1967 The final CPI for 1979 is especially significant because it affects the wages and benefits of more than 90 million Americans and the spending of billions of federal dollars Economists estimate that the seasonally adjusted 374 percent kith a gallon of gasoline rising 357 oil climb-t- e knU and home-heatin- 28 Monday January JACK WHITE (POOL SHARK ) Mon Feb 4 r PRIZES REGISTER YOUR 44JIAN TEAM S FOR INTRAMURAL OR SINGLES CAN REGISTER AND BE GROUPED INTO RUN-OFF- TEAMS BEST INDIVIDUAL PLAYERS WILL BE SELECTED TO FORM USU’S ENTRY IN REGIONAL CONTESTS REGISTER 3rd FLOOR SC DESK |