December CPI Blog: Updating our Housing Model | CEA - The …

Dec 11, 2024 · Today’s CPI report came in at expectations, as both headline and core inflation were 0.3% in November. On a yearly basis, headline and core inflation were 2.7% and 3.3%, …

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December CPI Blog: Updating Our Housing Model | CEA - The …

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Dec 11, 2024 · Today’s CPI report came in at expectations, as both headline and core inflation were 0.3% in November. On a yearly basis, headline and core inflation were 2.7% and 3.3%, …

whitehouse.gov

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From Housing To Energy To Food, US Inflation Picks Up, Though …

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Jan 10, 2024 · Overall housing prices rose 0.5% from November to December. Rents were up 0.4%, homeownership 0.5%. Over the past year, consumers have enjoyed price declines for …

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December CPI Report: What The Experts Are Saying About Inflation

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Jan 11, 2024 · The headline CPI rose 0.3% in December, up from 0.1% in November, while the core CPI rose 0.3%, unchanged from November. On a year-over-year basis, headline and …

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For The First Time In Decades, The Average Renter Spends 30% Of …

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National median rent prices, though currently cooling off nationwide, soared by 21% between March 2020 and December 2022 Last Updated: Jan. 28, 2023 at 11:55 a.m. ET First …

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The Role Of Housing In U.S. Inflation | CEA | The White House

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Sep 11, 2024 · Overall CPI inflation came in at expectations at 0.2% last month and 2.5% over the past year. The yearly rate is down from 2.9% last month and the lowest yearly growth rate …

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FAQs about December CPI Blog: Updating our Housing Model | CEA - The … Coupon?

Do housing costs follow CEA's model based on lagged market rents?

Housing: As we show in a tweet today, housing costs in the CPI continue to follow CEA’s model based on lagged market rents. Housing costs were up 0.5 percent on a monthly basis in November, down from 0.7 percent last November. ...

What is CPI housing inflation?

CPI shelter inflation is primarily made up of rent of primary residence and owners’ equivalent rent as well as smaller categories such as lodging away from home (i.e., hotels). We define CPI housing inflation as the combination of rent of primary residence and owners’ equivalent rent, which makes up about 95% of shelter inflation. ...

How long does CPI housing inflation take?

CEA models monthly CPI housing inflation using a population-weighted version of the Zillow median rent index to capture these lagged market pressures. Similar to a recent Bureau of Labor Statistics paper (Adams et al. 2022), CEA finds that it takes roughly 12 months for changes in market rents to become fully incorporated into housing CPI. ...

Why did the CPI rise in December?

"The December uptick in the CPI was to a large degree driven by meaningful increases in used vehicle prices and the heavily weighted rent of shelter that accounts for over 40% of the CPI. Both used vehicle prices and rents are widely expected to come back down over the next handful of months and the uptick in CPI should not be cause for alarm. ...

How did housing affect inflation in August?

In August, housing contributed 16 basis points (bps) to inflation, accounting for almost all of the 19 bps increase in overall prices. To be sure, core services ex housing remains elevated, contributing 9 bps to overall inflation in August, but this contribution was offset by declines in core goods and energy prices this month. ...

How has housing inflation changed since last June?

In conclusion, overall inflation has cooled considerably since last June, but housing inflation remains high. In many areas of the country, this reflects both stronger pandemic demand and long-standing shortfalls of supply. Market data suggest that in recent months, rental growth has declined. ...