Stat of the Day – May 13, 2022

Headline CPI came out Wednesday a bit hotter than expected with food and energy prices being assigned the lion’s share of the blame. But shelter, as always, is a key piece that’s just as important. Owners’ equivalent rent of residences came in at 4.8% YoY for April, a moderate increase from 4.5% in March. It seems to be propelled by rising costs in the South and West with the East and Midwest slowing down. 

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