Housing costs, the biggest contributor to US inflation, are on track to ease through the end of the year.
, are on track to ease through the end of the year, returning to the pre-pandemic trend in 2025, according to new research from the Federal Reserve Bank of San Francisco.Does sleeping on the street make this disabled Bay Area Marine Corps veteran a criminal?
The Bureau of Labor Statistics measures shelter costs using data on new rents, existing leases and an estimate of what owners would have to pay if they had to rent their home. These costs make up an outsize share of the consumer price index, and higher-than-expected readings earlier this year led Fed officials to keep interest rates higher for longer to rein in the cost-of-living surge.
“On net, rental prices eventually slow down, but they do so more gradually than prices of other goods and services whose supply is less sensitive to interest rates,” the pair wrote. “Taken together, these measures suggest that shelter inflation will continue to decline toward more traditional levels over the next year,” they said.
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