Word arrived that rent had slowed, on paper. Ambrose: shelter rose 3.2% in the year to September, slower than the 3.7% headline, and rent itself only 0.2% in the month. Pim: Point Two, my snail's new name! Prudence: the index counts every existing lease, and one tracker says rents on the market fell 0.4% over the year. The Toll Keeper: the biggest line in the book, and the slowest.
Shelter, the biggest piece of the CPI, rose 3.2% over the year to September, slower than the 3.7% headline, and the rent inside it is cooler still: rent of primary residence rose 0.2% in the month, and because the index counts every tenant's rent, including old leases, it lags the market, where one private tracker puts rents down 0.4% from a year earlier.
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X · Oct 14, 2026
