Hotel check-in, inflation check-up? June CPI may get a room-rate boost

Macro
โดย Seeking Alpha·Read original
Summary · why it matters

Rising hotel room rates could provide an upside surprise to U.S. services inflation in June, according to Renaissance Macro Research. The firm noted that average daily hotel room rates accelerated in June, rising 9.5% year over year, compared with a 5.1% increase in the Bureau of Labor Statistics' lodging-away-from-home component of the Consumer Price Index. This divergence suggests official inflation data may not have fully reflected recent pricing trends, partly driven by higher demand in cities hosting FIFA World Cup matches. A firmer-than-expected reading in lodging services could reinforce concerns that services inflation remains sticky despite recent easing in other parts of the consumer price basket.

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