The progress on inflation has been frustratingly slow this year. The most recent evidence was found in the Consumer Price Index (CPI), which increased by 3.4% from a year ago in April, from 3.5% in March.
One of the driving factors in keeping inflation high is the cost of housing. Shelter is not only a big line item for household budgets, it is a major contributor to inflation, accounting for a third of overall CPI.
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