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News In Brief

December 7, 1983

New York

Inflation in '84 forecast at 5%

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Consumers will pay 5 percent more for both essentials and the better things in life in 1984 than they did in 1983, according to a survey by Standard & Poor's Corporation.

The higher cost of food, clothing, most leisure-time activities, and a new car will be below the expected 5.3 percent inflation rate. But the survey indicated the family budget will be strained for such items as natural gas and health care.

Food prices should rise about 5 percent, nearly double the expected 1983 increase, with grain prices largely to blame. The federal payment-in-kind program and summer drought will combine to boost prices of many farm commodities.