Shelter costs continued to pressure inflation in April, but a moderation continues and economists expect these pressure to ease in the months ahead.
Housing costs remained elevated in April, serving as the largest contributor to core inflation's rise last month, but there remain signs that prices are starting to moderate.
Shelter costs accounted for over two-thirds of the annual increase in "core" inflation, which excludes food and energy prices. Shelter and gas prices accounted for 70% of the rise in headline inflation, which includes all categories, according to the BLS."Housing remains the key source of our inflation problems but disinflation is still in the pipeline," Ryan Sweet, chief US economist at Oxford Economics, wrote in a note after Wednesday's report.
"Those two factors will help lower shelter inflation toward an underlying pace that is more within the line of what we saw in 2018 and 2019," which was around 2.5% to 3%, Klachkin said. "The reason for that, quite ironically, is that as rates have gone up, it's been much more difficult for developers to build more apartments," Jay Parsons, head of residential strategy at Madera Residential, a Texas-based apartment owner, told Yahoo Finance in an interview.
Anticipated Inflation Shelter Costs Austan Goolsbee Housing Costs Consumer Price Index Energy Prices Bureau Of Labor Statistics
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CMHC reports annual pace of housing starts in April down 1% from MarchOTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.
Read more »
CMHC reports annual pace of housing starts in April down 1% from MarchCanada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.
Read more »
CMHC reports annual pace of housing starts in April down 1% from MarchOTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March. The national housing ...
Read more »
Canadian housing starts fell 1% in April, CMHC saysExplore stories from Atlantic Canada.
Read more »
BC Housing Granted Foreclosure Of Affordable Housing ProjectHoward is based in Burnaby and covers real estate, housing policy, and the development industry.
Read more »
BC Housing Minister re-announces affordable housing projects in BurnabyB.C. Housing Minister Ravi Kahlon was at 6488 Byrnepark Dr. Friday, where construction is underway on a six-storey building with 130 non-market rental units for Indigenous families and individuals.
Read more »