DETROIT - Falling consumer prices means the cost-of-living allowance paid to many union autoworkers will decline, United Auto Workers president Stephen Yokich said yesterday.
The COLA for UAW members working for General Motors Corp., Ford Motor Co., and DaimlerChrysler AG will decrease by 11 cents per hour to $1.28 starting the first pay period in March, because of a decline in the three-month average of the consumer price index for urban wage and clerical workers, the union said.
This is the second straight quarter that the COLA has decreased. In December the COLA dropped by a penny an hour.
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