Rent and owners’ equivalent rent, which together compose 40 percent of the core Consumer Price Index, rose 0.1 percent in October. Over the last six months, each has run at a 0.6 percent annualized rate of inflation while core, nonshelter prices rose at a 1.0 percent annualized rate. This very low rate of inflation in rent prices has been very consistent for a year and a half now. Rent prices have not moved more than 0.1 percent in either direction since March of last year.

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