Housing did much of the lifting in October's inflation number. CNBC, citing Tuesday's Bureau of Labor Statistics report, said shelter costs rose 0.3% and accounted for more than 30% of the headline 0.4% increase. Fox Business also reported housing prices up 0.3% on the month. Tenants' and household insurance costs rose 0.1%, a much smaller move than the shelter index.
Shelter here is a national price measure for October. It is not a notice from a landlord, and it is not a mortgage bill. A lease or fixed home loan already signed does not reset because the index rose. The same report showed transportation services up 0.8% and airfares up 0.4%, so some travel costs rose as well. Housing was the piece identified as more than 30% of the all-items increase.
The national index also does not say whether a particular city or building became more expensive. No metro rent table was included with the national figures these outlets published on Nov. 10.
Does the 0.3% shelter increase raise the rent in a lease you already have? No change to an existing lease or mortgage has been announced. The Nov. 10 fact is a national shelter index up 0.3%, accounting for more than 30% of October's overall increase.