Rob Wile is a breaking business news reporter for NBC News Digital.
Consumer price growth is barely slowing, putting ever more pressure on consumer finances. Annual inflation reported by the Bureau of Labor Statistics was expected to remain unchanged at 3.4% in May — still a ways off from the 2% target set by economic policymakers. Excluding volatile food and gasoline prices, the rate was expected to have declined from 3.6% to 3.5%.
While some so-called spot measures of rents from groups like CoreLogic and Zillow are showing price declines in some cities, the BLS survey of shelter costs is uniquely designed to capture changes in the value of housing, Franceski said. The survey has recently come under scrutiny, with critics saying it does not accurately reflect how consumers experience housing costs.
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