Economic Update - 12.17.21
Economic Update - 12.17.21

Featured topics:

  • Inflation
  • Holiday Spending
  • Consumer Sentiment
  • Eclipsing Pandemic Benefits
  • Apartment Market Activity
  • Adaptive Reuse
  • VTS national Office Demand Index (VODI)
  • Hiring Difficulties Abating
  • Job Openings and Labor Turnover Survey (JOLTS)
  • Home Prices and Property Taxes


• The Consumer Price Index increased by 6.8% year-over-year through November 2021, the largest annual increase since June 1982. Prices climbed on a seasonally adjusted 0.8% month-over-month, 10 basis points lower than October’s increase.

• Following a recent trend, broad price increases across sectors have pushed the CPI up. Core-CPI, a slimmed-down measure that removes food and energy prices from the index calculation, increased by 4.9% year-over-year and 0.5% from October.

• Used vehicles continue to be a leading component of the inflation picture, with prices rising by 2.5% month-over-month and 31.4% since November 2020. Apparel prices also saw a notable increase, rising by 1.3% during the month.

• Among the non-core items, gasoline continues to fuel inflation rising by 6.1% in the month and a jarring 58.1% year-over-year. Energy commodities climbed by 5.9% from October and 57.5% year-over-year. Food prices also continue to feel the pressure, climbing by 0.7% in the month and 6.1% year-over-year.

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