WARNING GIVEN
INFLATION IN UNITED STATES INCREASE IN COST OF LIVING (Rec. 1.15 p.rn.) Washington, Aug. 5. The Price Administrator, Mr Henderson, testifying before the House of Representatives Banking Committee, said that increases in wages and employment brought American purchasing power to a high record, and the nation was faced with the strongest and most pronounced increase in the cost of living. Even if the Administration’s Price Control Bill became law immediately the Government would have an enormous load controlling the prices which were already spiralling and striving to stabilise the country’s dynamic and volatile economy. The nation’s price structure was already knocking at the door of the 1929 levels and heading toward the 1919 peaks, and without artificial control inflation was inevitable. Pay rolls were 152 per cent, of the normal, while buying power was increasing. Production of civilian commodities was decreasing, resulting in competition for goods which had raised the general price level by 20 per cent, since the outbreak of war. —U.P.A. ________
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https://paperspast.natlib.govt.nz/newspapers/NEM19410806.2.106
Bibliographic details
Nelson Evening Mail, Volume 76, 6 August 1941, Page 6
Word Count
165WARNING GIVEN Nelson Evening Mail, Volume 76, 6 August 1941, Page 6
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