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<p>The Consumer Price Index ticked down to 5.3% from 5.4% last month and remained at one of the highest readings of the past twenty years.  While prices of items that had temporary spikes following the reopening have started to normalize, the report showed that inflation is continuing to become broader and stickier.  Most notably, the owners’ equivalent rent and rent of primary residence components –housing measures which collectively account for nearly 1/3 of the index– continued to climb and will likely keep inflation at an elevated level for as long as they maintain an upward trend.</p>
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<div class="wp-block-image"><figure class="aligncenter size-full"><img src="https://ns2020-investech.investech.com/wp-content/uploads/2021/09/cpi_rents.jpg" alt="" class="wp-image-11675"/></figure></div>
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