Consumer Price Index: Difference between revisions

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 Past Developments: [[Housing Market: US#Price Developments|Housing Market: US]]
-Shelter CPI is the biggest component in the core CPI for the US. The weighted shelter takes up 32.77% of CPI, of which 7.8% is rent and 23.68% is private housing,
+Home prices have started to decline since July 2022<ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-mom</ref>, but due to the lagging shelter CPI data, this will start to be reflected in CPI until the second half of 2023.
-*Home prices have started to decline since July 2022<ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-mom</ref>, but due to the lagging shelter CPI data, this will start to be reflected in CPI until the second half of 2023.
+Steep competition in the housing market and low supply are heating up home prices again. Before seasonal adjustment, prices rose in all 20 cities in March (versus in 12 in February), and in all 20 price gains accelerated between February and March.<ref>https://www.cnbc.com/2023/05/30/home-price-declines-may-be-over-sp-case-shiller-says.html</ref>
-*The S&P CoreLogic Case-Shiller rose a non-seasonally adjusted 0.2% month-over-month in February of 2023
-*The S&P CoreLogic Case-Shiller \edged up 0.4% yoy in February 2023, the smallest increase since 2012, compared to a 2.6% rise in January, and market forecasts of a flat reading.
+* The non-seasonally adjusted S&P CoreLogic Case-Shiller home price index in the United States increased 1.5% month-over-month in March of 2023, the most since May of 2022, and following an upwardly revised 0.3% rise in February.<ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-mom</ref>
-*Mortgage financing and the prospect of economic weakness are likely to remain a headwind for housing prices for at least the next several months. <ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-yoy</ref>
+* The S&P CoreLogic Case-Shiller home price index in the US fell 1.1% yoy in March 2023, the first decline since May 2012, and compared to forecasts of a 1.6% drop.<ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-yoy</ref>
 === 5. Food Prices ===
 Past Developments: [[Food Market]]
-*The '''FAO Food Price Index*''' (FFPI) averaged 127.2 points in April 2023, up 0.8 points (0.6 percent) from March and standing 31.2 points (19.7 percent) below its value in the corresponding month last year<ref>https://www.fao.org/worldfoodsituation/foodpricesindex/en/</ref>
-*The slight rebound in the FFPI in April was led by a steep increase in the sugar price index, along with an upturn in the meat price index, while the cereals, dairy and vegetable oil price indices continued to drop
+* The '''FAO Food Price Index*''' (FFPI) averaged 124.3 points in May 2023, down 3.4 points (2.6 percent) from April and as much as 35.4 points (22.1 percent) from the all-time high it reached in March 2022,
+* The decline in May was underpinned by significant drops in the price indices for vegetable oils, cereals and dairy, which were partly counterbalanced by increases in the sugar and meat indices.<ref>https://www.fao.org/worldfoodsituation/foodpricesindex/en/</ref>
 ===6. Energy===
 Past Developments: [https://www.investmentwiki.org/wiki/Energy_Industry#Price_Developments Energy Industry]