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Wealth
Economics

Rents in US Rise at Fastest Pace Since 1986, Buoying Inflation

  • More supply, signs of a peak could ease market, Moody’s says
  • Gap between wage growth and rent increases is narrowing
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Housing Markets Are Bubbling All Over the World

Rents rose in the US last month at the fastest pace since 1986, helping to propel overall inflation to a fresh four-decade high.

An index measuring rent of a primary residence was 0.8% higher in June than the month before, an acceleration from the 0.6% increase recorded in May, according to the Labor Department’s report on consumer prices published Wednesday. In the 12 months through June, rents were up 5.8%.