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Zillow forecasts CPI shelter inflation to stay near current pace in July

Zillow expects new rent and owner equivalent rent measures to show steady housing inflation ahead of the BLS CPI shelter release on Aug. 12.

Reported · Written up by our desk · Residential

Zillow Research is forecasting that CPI shelter inflation will hold close to its current pace in July 2026, with rent inflation at 2.8% and owner equivalent rent inflation at 3.2% on an annual basis, according to its latest outlook.

Zillow said new shelter inflation data from the Bureau of Labor Statistics is scheduled for release on Wednesday, August 12, 2026 at 8:30 ET, framing its forecast around the upcoming CPI update.

The housing research firm’s key takeaway is that CPI housing inflation is expected to remain broadly stable through the July measurement window.

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