Inflation Report - Housing Costs Continue to Rise in January

Housing costs are still rising at 0.7 to 0.8% on the month, which is an increase in housing costs in the CPI index that we haven't seen in roughly three decades. The Bureau of Labor Statistics used so-called surveyed rents in the consumer price index as opposed to observed rents from, for example, the Sillow index. So right about everything except for used cars and trucks and medical care services increased in price again in January. But I think there are reasons to remain slightly more upbeat than I sound so far if we look beneath the hood of this inflation report.