Planned cab fare hike may be on hold

December 12, 2008 5:50:27 AM PST
Chicago cab fares may not be going up this spring as many cabbies would like. Norma Reyes, the commissioner of Chicago's newly merged Department of Business Affairs and Consumer Services, says there are three factors to consider before raising rates. They are gas prices, lease rates and cost of living.

Reyes says gas prices are down and lease rates are stable.

But the cost of living has jumped by more than ten percent.

The last rate increase was in 2005.