NAA Inflation Tracker: August 2024

The Consumer Price Index for July came in largely as expected. The headline number dropped below 3.0% for the first time since March 2021. Excluding food & energy, prices were up 3.2% from a year ago, continuing their slow deceleration. On a monthly basis, both measures increased by 0.2%, higher than the previous month. Contributing to price increases in the all-items index this month were fuel oil (0.9%) and fruits and vegetables (0.8%). On the core side, car insurance and shelter costs increased by 1.2% and 0.4%, respectively. Shelter costs were responsible for nearly 90% of the headline increase in CPI. 

(2024, August 14). NAA Inflation Tracker: August 2024 NAA Inflation Tracker: August 2024 | National Apartment Association (naahq.org)