News

#: ‘There are considerable headwinds in the Fed’s fight against inflation’: The biggest monthly rent increase in 36 years adds fuel to the inflation fire

Table of Contents

“: ‘There are considerable headwinds in the Fed’s fight against inflation’: The biggest monthly rent increase in 36 years adds fuel to the inflation fire”

Rent prices rose by 0.8% in June from a month earlier, the Labor Department says — the largest monthly gain since 1986

Rent prices are helping to fuel inflation, new government data shows, seeing their largest monthly increase in more than three decades.

The consumer price index jumped by a stunning 9.1% in June from a year earlier, according to a Wednesday report from the Bureau of Labor Statistics. And while a lot of the blame is being placed on soaring gas prices — the overall energy index accounted for almost half the increase in inflation from May to June — housing costs are fanning the flames too.

Rent…

Emma Ockerman

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.