“Inflation: ‘No quick relief in rent increases,’ economist explains”
August 1, 2022
“Inflation has been a persistent nightmare, and rising rents nationwide are partly to blame. Unfortunately for renters, things are unlikely to get better this year.
“No quick relief in rent increases,” Alan Detmeister, a senior economist at UBS, told Yahoo Finance. “Probably not getting too much worse after the early next year [or] probably peaking early next year but then a long slow, downward pace on rent increases and still staying high through at least the end of 2024.”…
The Consumer Price Index (CPI) — the government’s widely-watched gauge for inflation — notched another 40-year high in June.
And while some components like energy were a big part of that increase, “rental inflation also has been strong,” Daniel Silver, an economist at JPMorgan, wrote in a recent note to clients…”
https://finance.yahoo.com/news/rental-inflation-important-to-monitor-jp-morgan-124812871.html