Prices
Without Rent, Inflation Might Be Too Damn Low
Shelter can't help the Fed's goal on its own
This article is for subscribers only.
It's been 10 years since Jimmy McMillan founded a political party based on the notion that rent is "too damn high." The latest inflation data tell us that sustained shelter costs may be the only thing keeping price increases from heading too damn low.
Even after subtracting the oil price plunge from the inflation picture, the core consumer price index, which excludes food and energy costs, flatlined in December, failing to rise for just the second time since 2010.