Since we're getting a rate hike this week...one under-appreciated piece of the inflation debate is how we *measure* inflation. Housing dominates the Core CPI, but their preferred metric lags the market significantly (h/t Yglesias).  https://i.imgur.com/sWo3qWA.png

BLS is more accurate to calculate what people in aggregate are paying (because most folks have long-term leases), however is a bad indicator on how we're fighting inflation as it lags the market significantly.

Specifically, the Apartment list data is showing the increase in the price of *new* leases, while the BLS calculates the average of all rents paid.