House Price Inflation in CPI is of Course Complete Baloney, but it Accounts for 1/4 of Total CPI
This article was written by Wolf Richter and originally published at Wolf Street For most Americans, housing costs are the largest item in their budget, ranging from 30% to 60% of their total monthly spending. In its Consumer Price Index (CPI) for February, released yesterday, the Bureau of Labor Statistics reported that the costs of homeownership (which the BLS calls…