Housing Boom to be Inflationary in 2022?

CME Group
Economic Research

Could Housing Boom Drive Up Inflation in 2022?

By Erik Norland, Senior Economist
Ayushman Mukherjee, Intern
CME Group

  • Housing costs falling behind consumer price index for first time in a decade.
  • Surge in home prices could lead to higher rent through end of 2022.
  • Higher home rentals could add 1.5 percentage points to core CPI inflation.
  • Low mortgage rates, high savings and inelastic supply behind housing boom.
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