Anti-Inflation Act

Anti-Inflation Act - States that it is the purpose of this Act to contribute to the moderation of inflation without incurring the drawbacks of mandatory controls by authorizing a Cost of Living Council within the executive branch to take appropriate actions to assure that the Government's direct impact on prices and wages is less inflationary, and to encourage private parties and local and State governments to adjust their policies and practices to contribute to a less inflationary economy.

Provides that the Cost of Living Council shall: (1) review the programs and activities of Federal departments and agencies and the private sector which may cause increases in prices and make recommendations for changes in such programs and activities, to restrain prices by increasing supply and otherwise; (2) review industrial capacity, demand, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint; (3) improve wage and price data bases for the various sectors of the economy to improve collective bargaining and encourage price restraint; (4) conduct public hearings when appropriate to provide for public scrutiny of inflationary problems in various sectors of the economy; (5) focus attention on the need to increase productivity on both the public and private sectors of the economy; (6) monitor the economy as a whole, including such matters as wages, costs, productivity, prices, sales, profits, imports, and exports; and (7) conduct a continuing review of the effect of economic concentration and anticompetitive practices on price and wage inflation and recommend legislation and other appropriate action to reduce the impact of such concentration or practices on inflation.

Authorizes to be appropriated the sum necessary to carry out the provisions of this Act.