Housing inflation was steady in December, an encouraging sign for one of the most stubborn drivers of consumer price growth.
Housing costs rose 0.3% in December on a seasonal basis, flat with November’s 0.3% increase. From a year ago, housing costs increased by 4.6% – the smallest annual increase since the beginning of 2022, the Bureau of Labor Statistics said in a statement Wednesday.
The sustained annual slowdown serves as relatively good news for economists who have long expected such costs (as measured by the CPI) to cool, after shelter inflation accelerated to 8.2% over on an annual basis in 2023.
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2025-01-15 17:27:00
