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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jul 22, 1975
Page
5
The Labor Department reports a sharp eight tenth of one percent rise in the Consumer Price Index for June, led by a 1.5 percent jump in food costs and a 3 percent increase in gasoline to about 57 cents a gallon. Real earnings fell, and the 12 month CPI gain reaches 9.3 percent.
Housing Secretary Carla Hills cites improving mortgage rates and rising starts, but industry chiefs from the National Association of Mutual Savings Banks and the National Association of Homebuilders push a slower recovery. They warn against overoptimism and predict 1.3 to 1.5 million starts, far below housing's earlier highs.
Writers using a 2.0 mile Indy course for the Mercury Bobcat MPG challenge found fuel economy from 29.4 to 26.0 mpg with most drivers between 27.5 and 28.5 mpg. Ford’s Benton notes weight, weather, tires and options affect mileage and advises averaging five fill ups and a 1,000 mile break in for best results.
A terse NYSE update gives 2 PM quotations for The Dow Jones Averages and listed figures. The report notes fluctuations with specific values and percentages, reflecting intraday activity and market sentiment.
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