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The price of inflation

6th February 1976
Page 37
Page 37, 6th February 1976 — The price of inflation
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Which of the following most accurately describes the problem?

ROAD hauliers paid the price of inflation during 1975—with costs rising by an average of almost 15 per cent over the 12 months.

A survey by the Road Haulage Association's commercial committee revealed that operating costs accounted for 12.74 per cent of the increase and overheads for 2.1 per cent.

Substantial increases were seen in a number of items, each of which upped total costs by the following percentages: fuel (2.85), tyres (0.68), materials and outside repairs (1,49), drivers' wages (3.29), excise duty (1.1) and establishment charges (1.35).

These figures have been worked out on an industry basis, and there will be variations in cost increases at a local level.

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