Rent Inflation Rises To 3.3% YoY
The trend on core inflation from the Consumer Price Index (CPI) is increasing, but is still at only 2.1% YoY and 2.4% YoY for CPI.
Core PCE Price growth is at 1.6% YoY.
Rent inflation (from owners equivalent rent) rose to 3.3% YoY.
And the US Treasury curve keeps on flattening.
I miss the days of Janet Yellen telling us that “inflation is just around the corner.”