Today, the Bureau of Labor Statistics released the May Consumer Price Index, which shows inflation at 0% month-over-month and shelter was the largest contributor to the overall rise in prices of any category. Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun reacted with the following statement:
“The Fed cannot bring down housing prices by keeping interest rates higher for longer, but it can make rent and homeownership even more unaffordable for families. Waiting around will only delay the relief families need to get ahead. The time to cut rates is now.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about today’s CPI report.