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In this Real Estate News Brief for the week ending July 2nd, 2022... why inflation appears to be slowing, what the GDP says about a potential recession, and the latest reports on rent growth. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. The rate of inflation appears to have slowed a bit. The Personal Consumption Index, or PCI, was up .6% in May with a yearly rate that was unchanged at 6.3%, but the core rate was down slightly. The core rate doesn’t include prices for food or fuel, and the yearly rate for that dropped from 4.9% in April to 4.7% in May. The Federal Reserve feels the PCI is more accurate than the Consumer Price Index or CPI, because the PCI factors in more variables, such as changes in consumer behavior. (1) It’s now official. The economy shrank 1.6% in the first quarter, and the Atlanta Federal Reserve is forecasting a negative reading for the seco