Skip to content
Project 2025
Search

Latest Stories

Top Stories
Just the Facts: Canadian Tariffs

Just the Facts: Canadian Tariffs

Redistricting

Redistricting

Tracy Chapman and Luke Combs on stage

Luke Combs, politics and healing our nation's divide

Voter registration

The SAVE Act: Addressing a Non-Existent Problem at the Cost of Voter Access?

Donald Trump

Congress Bill Spotlight: Trump’s Birthday and Flag Day Holiday Establishment Act

A fictional, fanciful sign depicts the results of voter suppression through the unfair, partisan manipulation of district lines (gerrymandering).

The worst congressional gerrymanders of the 2020s

Are housing costs driving inflation in 2024?

Houses with price tags
retrorocket/Getty Images
Miles Guerin, EconoFact
By Miles Guerin, EconoFactSep 13, 2024
Miles Guerin, EconoFact
See More Writings by author

This fact brief was originally published by EconoFact. Read the original here. Fact briefs are published by newsrooms in the Gigafact network, and republished by The Fulcrum. Visit Gigafact to learn more.

Are housing costs driving inflation in 2024?

Yes.

The rise in housing costs has been a major source of overall inflation, which was 2.9% in the 12 months ending in July 2024.

The Bureau of Labor Statistics' shelter index, which includes housing costs for renters and homeowners, rose 5.1% in the 12 months ending in July 2024.

Housing costs account for 36.3% of the Consumer Price Index. This represents the largest share of any category.

The Consumer Price Index is an ongoing measure of price changes in a representative "basket" of consumer goods and services.

The only category in the CPI that increased at a greater rate was transportation services at 8.8%.

The Bureau of Labor Statistics reports that the rise in housing costs over this period accounted for over 70% of the total 12-month increase in the core CPI – that is, the CPI excluding food and energy prices, which rose 3.2% in this 12 month period.

This fact brief is responsive to conversations such as this one.

Sources

Bureau of Labor Statistics Consumer Price Index - July 2024

Sign up for The Fulcrum newsletter

Bureau of Labor Statistics Consumer Price Index

Latest news

U.S. President Donald Trump signs an executive order in the Oval Office at the White House on April 23, 2025 in Washington, DC.
Governance & Legislation

Federal AI Advisory Committee Disbanded Under Trump’s Executive Order

The President Must Affirm His Commitment to the Constitution
Ethics & Leadership

The President Must Affirm His Commitment to the Constitution

Read More

The DOGE and Executive Power

White House Senior Advisor, Tesla and SpaceX CEO Elon Musk attends a Cabinet meeting at the White House on April 30, 2025 in Washington, DC.

Photo by Andrew Harnik/Getty Images

The DOGE and Executive Power

The DOGE is not the first effort to reduce waste, fraud, and abuse in government. It is the first to receive such vociferous disdain along what appears to be purely political lines. Most presidents have made efforts in these areas, some more substantial than others, with limited success. Here are some modern examples.

In 1982, President Reagan used an executive order to establish a private sector task force to identify inefficiencies in government spending (commonly called the Grace Commission). The final report included 2,478 recommendations to reduce wasteful government practices, estimated savings of $429 billion over the first three years and $6.8 trillion between 1985 and 2000. Most of the savings required legislative changes, and Congress ignored most of those proposals.

Keep ReadingShow less
Progressives Have Religious Freedom Too
person standing while reading ook
Photo by Tyler Callahan on Unsplash

Progressives Have Religious Freedom Too

At the end of March, the Supreme Court heard arguments in a case about religious freedom. In late April, it heard two more. By summer, the Court could decide to give religious employers another tax break, let religious parents excuse their children from classes that mention queer people, and give religious charter schools access to public funding.

Religious freedom in these cases is about conservatives’ religious right to be exempt from certain laws and taxes. They give a Supreme Court dominated by Republican appointees a chance to carve three new religion-shaped holes in American law.

Keep ReadingShow less
World Vaccine Congress Washington Tackles Anti-Vaccine Rhetoric in U.S. Politics

The World Vaccine Congress Washington is held at the Walter E. Washington Convention Center, April 23, 2025

(Erin Drumm/Medill New Service)

World Vaccine Congress Washington Tackles Anti-Vaccine Rhetoric in U.S. Politics

WASHINGTON—A vaccine policy expert challenged attendees of the World Vaccine Congress Washington to imagine a deadly disease spreading in various places around the country. We have the tools to stop it, but lawmakers were instead debating whether or not to use them.

In fact, that describes what is currently happening across the United States, according to Rehka Lakshmanan, M.H.A.

Keep ReadingShow less
young girl pouring fresh juice or milk into cup sitting at table with classmates while eating lunch in school cafeteria.

Young girl pouring fresh juice or milk into cup sitting at table with classmates while eating lunch in school cafeteria.

Getty Images, SeventyFour

The Real Monster: Hunger in America’s Schools

Boo wasn’t afraid of monsters. In Monster, Inc., a popular Disney animated film, the wide-eyed, giggling little girl toddled fearlessly through a world of towering, furry creatures—completely unfazed by their fangs, claws, or booming voices. The only thing that scared her was Randall, the lurking, slithering villain who threatened her safety.

I once met a little girl just like Boo. She was about three years old, her hair tied up in tiny ponytails, her eyes filled with curiosity. At a food site I visited during my evaluation of the USDA’s Summer Food Service Program (SFSP), she struggled to climb onto the picnic bench, her small hands gripping the edge as she hoisted herself up. When she finally settled, she shared something no child should ever have to say: “When I stay with my dad, we don’t always eat lunch.”

Keep ReadingShow less
© Copyright 2025