US DATA: BLS Reveals Swing In Single Family OER Weight After Pressure
Feb-29 18:13By: Chris Harrison
- Further to our bullet published today at 0730ET on recent BLS confusion surrounding OER CPI inflation, the BLS now writes that “In January 2024, the proportion of OER weighted toward single-family-detached homes increased by approximately 5 percent”.
- BLS announcement: https://www.bls.gov/cpi/notices/2024/rent-oer-information.htm
- Bloomberg on the announcement: “While the BLS publicly discloses weights for major categories within the CPI, it typically doesn’t do so for source data that feed into those components. In this instance, it revealed the change in the weight of single-family detached homes within OER versus multifamily units after receiving “numerous inquiries” about the jump.”
