Inflation in housing costs, specifically shelter component of CPI, increased 0.4% monthly and 5.7% yearly in March, persistently impacting Federal Reserve's inflation control efforts.
Inflation in housing costs remains stubbornly high, with the shelter component of the Consumer Price Index rising 0.4% over the previous month and 5.7% year over year in March. Despite a decline in market-based measures of rent growth, the BLS measure of rent inflation has not yet shown a significant cooling. This continues to put pressure on the Federal Reserve's efforts to tame inflation.
April 10, 2024
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