off-the-wire

Yellen says expects rents, biggest contributor to inflation, to move down this year

Kitco Media
By Reuters
Published:
Updated:
Reuters
Yellen says expects rents, biggest contributor to inflation, to move down this year teaser image

MILWAUKEE, March 13 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said she expects the cost of rental housing - the single largest contributor to inflation - to move lower this year as new leases are signed.

In an interview with Fox Business, Yellen said it took a while for changes in rent levels to filter through into the consumer price index, but she expected that to occur this year.

"I have every expectation that the single biggest contributor to inflation is going to be moving down over this year," she said.

Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.

Reporting by Andrea Shalal

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.