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Posted by Monitor on June 17, 2009, 9:12 am
Housing Oversupply Will Keep Core CPI Muted
Keep an eye on housing inflation, says Joshua Shapiro of MFR. The
homeowners' equivalent rent component within the CPI increased by 0.1%
in May And April. The component accounts for 31% of the overall core
CPI, so the trend of this component will be important to the direction
of the core measure. Shapiro writes, "We believe that oversupply in
the housing market (both rental and owner-occupied) will keep it
subdued." (KGM)
Dow Jones Newswires
June 17, 2009 09:03 ET (13:03 GMT)
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