Rising rents and housing costs were the main contributors to price growth in June, making up more than 70 percent of the total increase in inflation. The cost of renting an apartment is easing after skyrocketing in recent years, though it remain painfully high for many Americans.(AP Photo/Matt Rourke, File) Housing costs are driving inflation A “For Rent” sign is displayed outside a building in Philadelphia, June 22, 2022. The prices of these items are among those that rose and fell the most from May to June 2023. They’ve signaled two more rate increases before the end of the year, but this clear sign of slowed growth could be fodder for ending hikes sooner,” NerdWallet data analyst Elizabeth Renter said in a note on the latest consumer price index. “The Central Bank has been on a campaign to rein in inflation for nearly a year and a half, pausing a beat last month to let things simmer. A series of aggressive interest rate hikes by the Fed has helped cool price increases across the U.S.
The latest rate is still shy of the Federal Reserve’s 2 percent target. ( The Hill) - Inflation fell to an annual rate of 3 percent in June, according to data released Wednesday by the Labor Department, giving consumers more breathing room after nearly two years of high prices.
0 kommentar(er)
