Housing Costs Surge In July, Accounting For 90% Of Total Inflation

[mystery-ak]

Housing Costs Surge In July, Accounting For 90% Of Total Inflation


Owen Klinsky
Contributor
August 14, 2024 2:52 PM ET

The cost of housing surged in July, accounting for nearly 90% of total inflation, according to the latest Bureau of Labor Statistics Consumer Price Index (CPI) data released Wednesday.

Shelter costs rose 5.1% year-over-year and 0.4% month-over-month, after rising 0.2% in June, the BLS showed. The 0.4% monthly increase was greater than Bank of America economists’ expectations of 0.3%, according to investment research firm Morningstar.

“The most disappointing aspect of this report was the shelter data,” Omair Sharif, founder of the research firm Inflation Insights, wrote in a note after the report, according to Yahoo Finance.

https://twitter.com/benjaminMlavine/status/1823702778285281358

The July increase in shelter costs was comprised of a 0.5% increase in rent, a 0.4% increase in owners’ equivalent rent and a 0.2% increase in lodging away from home, BLS data showed.

more
https://dailycaller.com/2024/08/14/housing-costs-surge-july-90-percent-total-inflation/

[LMAO]

Hmmm..,,

Perhaps we should try to stop printing money? It’s worth a try and better than “drill, baby, drill” or price controls

[LMAO]

“The most disappointing aspect of this report was the shelter data,” Omair Sharif, founder of the research firm Inflation Insights, wrote in a note after the report, according to Yahoo Finance.

Loved his role in “Dr Zhivago”

[DefiantMassRINO]

Instead of letting forests burn in wildfires, cut down the damn trees for lumber and build more housing.  Trees are "renewable" because you can grow more.

[LMAO]

Harris  has got this. A $25,000 subsidy for new homeowners. What could go wrong?