Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Bureau of Labor Statistics' New Tenant Rent Index fell further in the first quarter of the year to the smallest increase since 2010, and suggesting continued disinflation for the rent component of CPI later this year and next.
The index, which only includes data on the first survey observation after new tenants move into their sampled housing units, showed new tenant rents rose 0.4% in the first quarter, down from 0.9% in the fourth quarter of 2023, revised up from an initial reading of -4.7% in January. Pre-Covid readings of the new tenant rent index were generally around 3%. It peaked at 12% in the second quarter of 2022.
The rent component of the official CPI measures the change in all rents, including new leases, renewals, and rents in the middle of a lease, and lags the New Tenant Rent Index by about a year. (See: MNI: US Shelter Inflation Cooldown Seen Limited In 2024)
Source: BLS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.