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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
Bloomberg business news
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%.