Consumer prices rose 0.2 percent in October and 2.6 percent over twelve months. Shelter increased 0.4 percent and accounted for more than half of the monthly all-items rise.
Housing enters slowly
Leases reset over time, so official shelter measures can lag changes in advertised rents.
One category can shape the total
Large spending weights allow a moderate move in housing to matter more than a sharper move in a small category.
Cooling still counted
Annual inflation was far below its earlier peak, but persistent shelter costs kept the final stretch uneven.
Sources
- U.S. Bureau of Labor Statistics, Consumer Price Index, October 2024.