1 key driver of higher inflation is finally showing signs of easing
Rental prices climbed 7.2% between September 2021 to September of this year, the largest annual increase since 1982, according to consumer price data released Thursday. Overall, shelter costs were also among the most significant drivers in rising consumer prices, along with the cost of food and medical care, the Labor Department said.
Housing inflation in the Consumer Price Index lags trends in the rental market, though, meaning the slowdown in rent growth might not register in the data for a while. “After more than a year of double-digit yearly rent gains and nearly as many months of record-high rents, it’s especially important to see consistency before we confirm a major shift like the recent rental market cool-down,” Realtor.com Chief Economist Danielle Hale said in a statement. “But September data provides that evidence, as national rents continued to pull back from their latest all-time high registered just two months ago.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Surging prices show the Fed must continue its tough battle against inflation | CNN BusinessA key inflation report showed consumer prices came in hotter than expected in September, punishing Americans and giving license to the Federal Reserve to maintain its pace of historic rate hikes.
Read more »
CPI set to show inflation remained near a 40-year high in SeptemberHigh inflation hardly relented over the summer and the cost of living in September is unlikely to show any letup in how much consumers pay for goods and...
Read more »
As inflation rages, more Americans are struggling to pay their billsClose to one-third of Americans are having difficulty paying their bills on time as a result of the hottest inflation in decades, with the cost of most goods climbing higher.
Read more »
Phoenix Police gaining ground on staffing shortageThere's finally some good news when it comes to Phoenix Police staffing – for years, they've been losing officers every month, but that changed in September.
Read more »
This key inflation measure shows prices rose faster than expected last month | CNN BusinessA key measure of inflation increased faster than expected in September, raising concerns that the Federal Reserve's aggressive rate hikes are having limited impact in bringing inflation under control.
Read more »
Market Wrap: Bitcoin Trades Higher Amid Muted Expectations for Next Inflation ReadingMARKET WRAP: Crypto investors kept $BTC in the narrow range it has been occupying for weeks, as Thursday’s Consumer Price Index release approaches. GWilliamsJr_CMT and _jocelynyang_ report
Read more »