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December Shelter Costs Rise Amid Easing Rent Pressures

1/16/2025

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Summary

Story summary

Shelter costs rose 0.3% in December, with a year-over-year increase of 4.6%, down from 8.2%.
Overall inflation increased by 0.4% month-over-month and 2.9% year-over-year.
Limited housing supply and strong demand sustain high prices, despite easing rent pressures from new apartment construction.
Local inflationary pressures arise from natural disasters, but they are unlikely to impact national trends.

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Story summary

Shelter costs rose 0.3% in December, with a year-over-year increase of 4.6%, down from 8.2%.
Overall inflation increased by 0.4% month-over-month and 2.9% year-over-year.
Limited housing supply and strong demand sustain high prices, despite easing rent pressures from new apartment construction.
Local inflationary pressures arise from natural disasters, but they are unlikely to impact national trends.