Reported 11 days ago
The Consumer Price Index report reveals that housing costs increased by 0.4% in October, marking a challenge for the Federal Reserve's initiatives to combat inflation. Shelter costs matched a year-over-year rise of 4.9%, alongside consistent rent increases, adding to consumers' financial burdens. Economists highlight the potential for temporary rent spikes due to hurricane impacts, suggesting a persistent struggle to achieve targeted inflation rates.
Source: YAHOO