It’s been about 4-5 months since I last talked about Case-Shiller CPI (CS-CPI). Case-Shiller CPI is formulated by substituting the Case-Shiller housing index for Owner’s Equivalent Rent (OER) in the CPI for all urban consumers (CPI-U) index, commonly shortened to CPI. For a complete description of the reasons and methodology for making this substitution, please see What’s the Real CPI? With year-over-year home prices flattening, the effect of substituting the Case-Shiller housing index for …

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Case-Shiller CPI Now Tracking CPI-U; Real Interest Rates Are Once Again Negative