Ahead of CPI and the focus on rents/Goods prices bottoming?/Other notables

Just a quick tutorial from Apartment List, posted by them yesterday, in explaining the difference between their monthly survey of national rental rates and what we'll see in today's March CPI. "The difference between our index and the rent component of CPI reflects the fact that the two indexes are designed to measure different concepts. The Apartment List rent index measures composition-controlled price changes for new leases, while the CPI tracks rent changes across all households. Since only a small share of households sign a new lease in any given month, it takes time for changes in market-rate asking rents to filter through to the entire market." 

https://www.apartmentlist.com/research/rent-cpi-remains-elevated-even-as-rents-for-new-leases-dip

Also ahead of CPI, thanks to the Red Sea ship diversions, we know there has also been a pick up in the use of air to get stuff from point A to point B. In case you missed the WSJ article last week titled "Red Sea Shipping Diversions Are Boosting Airfreight Volumes and Rates" it cited the transportation data firm Xeneta and revealed these stats. "The Norway based firm says global airfreight volumes have grown at a double digit pace in each of the past four months through March...On lanes linking the Middle East and South Asia to Europe, average spot rates rose 46% from February to March to $2.82 per kilogram, a 71% increase from last year. The average global spot rate to ship cargo by air in March rose 7% from a month earlier to $2.43 per kilogram, according to Xeneta."

I thought this was really interesting too in the last paragraph of the article, "Logistics specialists say global air cargo rates are also rising because of strong demand from growing Asian e-commerce companies, such as Temu and Shein, that rely on aircraft to ship goods to consumers."