Shelter is now the biggest drag on inflation. Rent and OER make up 33% of CPI. Both are rolling over.
Shelter inflation is finally unwinding. The July 2025 CPI release confirms it. Rent of Primary Residence now holds a 7.52% weight in the CPI-U. Owners’ Equivalent Rent (OER) sits at 25.08%. Combined, shelter accounts for 32.6% of the entire inflation … Read more