Many Americans are concerned with the rising cost of housing, but it turns out that there is still such a thing as free rent.
The core Consumer Price Index rose 1.9% last month alone. The biggest culprits for the spike in cost of living are rising rents and massive medical expenses. Though inflationary (and a nod to the Fed to hike in December), it should be noted that this is the first time in three months that the CPI has been in positive territory, so panic is not necessary. Offsetting the rise in cost of living–and perhaps even driving it–Hourly Earnings are up 0.2% from last month and 2.4% from this time last year.
