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Housing costs are so high they pushed inflation up ahead of the Fed meeting

Thursday, June 15, 2023 at 12:00 AM

Housing costs continued to drive inflation in May even as the annual growth rate reached its slowest pace since March 2021.

Consumer prices rose just 0.1 percent last month and are up 4 percent since last year, according to the consumer price index released by the Labor Department on Tuesday.

But the cost of housing increased by 0.6 percent from April, making it the largest factor in the monthly increase in inflation. Prices are now eight percent higher than they were a year ago on an unadjusted basis.

The full article is available at ozarksfirst.com.

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