U.S. rents dip 1.3% YoY, tightening a major CPI lever
U.S. median asking rents fell 1.3% year‑over‑year in December, marking the third straight year of negative rent growth. With vacancy rates hitting a record 7.3%, the supply glut is softening shelter costs, a key driver of CPI. Lower rents could pull inflation down and influence Fed policy decisions.