Tenants suffer as house rents soar

MG News | November 08, 2018 at 01:16 PM GMT+05:00

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November 08, 2018 (MLN): Due to soaring rents for houses, getting a rented accommodation has become very difficult for many low- and middle-income families.

CPI for house rent, which holds the highest weight of about 21.8% among non-food items in the CPI basket, has shown a jump of 6.72% during the month of October 2018 as compared to the same period last year, revealed the data released by PBS.

As compared to the previous month it has increased by 0.53%.

This rise in the rents for houses, reflect the fact that the cost of inputs used in construction process, wage rates of the workers and the prices of other utilities including water supply, gas and electricity witnessed an upward trend as compared to the same period previous year.

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