Increasing rents could keep inflation elevated longer than expected, report says

The cost of rent in several U.S. cities is rising as the economy recovers from the coronavirus pandemic. A New York Times report explains how those spikes could have a direct impact on the nation’s inflation outlook, keeping prices elevated through the end of 2021. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joins CBSN’s Lana Zak to explain. Source