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Story
December 1, 1952
Trainman News
Indianapolis, Marion County, Indiana
What is this article about?
In Detroit, UAW President Walter P. Reuther welcomes a potential pay cut from the declining Consumers' Price Index only if it signals lower prices, attributes it to seasonal factors, and urges Congress to combat rising prices.
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Index Decline Was Seasonal: Reuther
DETROIT - The CIO United Auto Workers would welcome the one-cent hourly pay cut as result of the recent decline in the Labor Dept.'s Consumers' Price Index if the decline "represented a definite trend toward lower prices," President Walter P. Reuther said.
"However," he added, "it appears that the price level for this quarter was influenced by seasonal reductions in the prices of fresh fruits and vegetables. It is significant that the prices of these products have now turned up from the seasonal lows."
The UAW leader said that "The same elements that destroyed effective price controls and either destroyed or weakened other anti-inflationary measures now have the responsibility of leadership in Congress. We sincerely hope that this new responsibility will cause them to act responsibly and that they will find some way to halt rising prices."
DETROIT - The CIO United Auto Workers would welcome the one-cent hourly pay cut as result of the recent decline in the Labor Dept.'s Consumers' Price Index if the decline "represented a definite trend toward lower prices," President Walter P. Reuther said.
"However," he added, "it appears that the price level for this quarter was influenced by seasonal reductions in the prices of fresh fruits and vegetables. It is significant that the prices of these products have now turned up from the seasonal lows."
The UAW leader said that "The same elements that destroyed effective price controls and either destroyed or weakened other anti-inflationary measures now have the responsibility of leadership in Congress. We sincerely hope that this new responsibility will cause them to act responsibly and that they will find some way to halt rising prices."
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
What keywords are associated?
Price Index Decline
Walter Reuther
Uaw
Seasonal Prices
Inflation Controls
Congress Responsibility
What entities or persons were involved?
Walter P. Reuther
Cio United Auto Workers
Uaw
Where did it happen?
Detroit
Story Details
Key Persons
Walter P. Reuther
Cio United Auto Workers
Uaw
Location
Detroit
Story Details
UAW President Walter P. Reuther states the union would accept a one-cent hourly pay cut from the declining Consumers' Price Index if it indicates a trend toward lower prices, but notes it is seasonal due to fruits and vegetables, and calls on Congress to halt rising prices after undermining prior controls.