General World News

April data suggests we’re close to peak rent inflation

April’s Consumer Price Index data is welcome news to the Federal Reserve, which is debating whether to continue hiking interest rates after its most recent 25 basis point hike last week. Especially encouraging is that housing inflation pressure in the CPI is starting to ease, with April representing the smallest one month change in over two years.

Overall, consumer prices cooled further in April, with the CPI rising 4.9% year over year, before seasonal adjustment, according to data released Wednesday by the Bureau of Labor Statistics (BLS).

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