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.
New data from the Cleveland Federal Reserve tracking housing sector inflation suggests one of the key drivers of soaring prices will soon become less of a problem.
The bank said in a report released Thursday it had updated its repeat-rent inflation measures created from CPI microdata. The data for the new-tenant repeat-rent (NTRR) index, with only leases of tenants who recently moved in and updated through the first quarter of the year, turned negative at -0.11%. (See MNI INTERVIEW: Fed's Wright Optimistic On Further Disinflation)
The research noted that housing-related factors are a major component of the government's monthly Consumer Price Index, with shelter costs making up nearly a third of that closely watched report. An alternative Cleveland Fed all-tenant repeat-rent (ATRR) index uses all tenants, whether they recently moved in or not, and stood at 7.15%. Shelter as measured most recently in the CPI stood at 7.3% in the year to August.
Source: Cleveland Fed
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.