The price to keep a roof over your head rushed ahead of overall consumer inflation in 2014 as rents spiked up, according to data released Friday.
The U.S. Labor Department’s gauge of prices for shelter—a broad category that includes items such as apartment rent and hotel stays—showed inflation of 2.9% in 2014, the fastest calendar-year result since 2007. Rent inflation reached 3.4%, the largest calendar-year growth since 2008.
Those rates were far faster than overall consumer inflation, which hit 0.8% in 2014, knocked by plummeting energy costs.
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