Inflation Update: Peaking Rent and High Food Prices Impact Wallets.
Originally Published 2 years ago — by Axios
Rent inflation in the US is showing signs of peaking, with the month-over-month pace of rent growth dropping to 0.5% in March from 0.8% in the second half of 2021. However, the annual number is still high, with rents up nearly 9% in March compared to last year. Falling rents are good for renters but pose a problem for the real estate sector, with property values on multifamily apartments falling at the same time as interest rates are soaring.