Phoenix’s Rent Prices Slowdown, Overall Inflation Follows Suit
Phoenix is making significant progress in combating inflation, outpacing many other cities. Recent data corroborates the long-held assertions of economists and the Federal Reserve: when rents decline, overall inflation tends to follow suit. With Phoenix experiencing a slight slowdown in population growth and a significant increase in available rental properties, renters can anticipate a decrease in rents over the coming eighteen months. This decline in rental prices, coupled with the broader deceleration of inflation in the nation’s fifth-most populous city, is drawing keen attention from political strategists, particularly with less than six months remaining until the 2024 presidential election.