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coming in with

English translation: being reported with

19:05 Jun 13, 2021
English language (monolingual) [PRO]
Bus/Financial - Finance (general)
English term or phrase: coming in with
Some market commentators dismissed the US inflation numbers due to OERs (owner equivalent rents, a proxy for housing costs in the US which constitute a large part of CPI) coming in with inflation at “only” 2%. I have a simplistic view on this: if the supposed laggard is at 2% then the overall average will be way above 2%.

I don't understand the meaning of the above sentences :-(
Market commentators dismiss headline inflation at 4,2% because OERs inflation is only 2%? Meaning what exactly?

Thankful for any help!
Laura Vinti
United States
Local time: 21:07
Selected answer:being reported with
Explanation:
You could think of this as reports arriving at someone's desk, or statistics coming in to a central collection point. Perhaps the underlying assumption is that OERs are considered to be more stable (less volatile) than the other trends being measured in the calculation of the CPI.
Selected response from:

Janet Ross Snyder
Canada
Local time: 22:07
Grading comment
Thank you!
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +2being incorporated in the overall inflation index with an inflation rate estimated at “only” 2%
Daryo
4being reported with
Janet Ross Snyder
3 +1amounting to/equalling
AllegroTrans
4 -1inflation numbers coming out from a report with inflation at only 2%
Kiet Bach
Summary of reference entries provided
Ref.
Taña Dalglish

Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
being reported with


Explanation:
You could think of this as reports arriving at someone's desk, or statistics coming in to a central collection point. Perhaps the underlying assumption is that OERs are considered to be more stable (less volatile) than the other trends being measured in the calculation of the CPI.

Janet Ross Snyder
Canada
Local time: 22:07
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thank you!

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: you can "report" only effective values = amounts of money that was really spent (or earned) // these "owner equivalent rents" are purely hypothetical amounts - owners DON'T "pay rent" to themselves. - these are estimated figures
2 hrs
agree  philgoddard: Could be - I think this is unclear writing, and there's no way to be sure.
21 hrs
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3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
amounting to/equalling


Explanation:
Just a convoluted way of saying "inflation equals only 2%"

AllegroTrans
United Kingdom
Local time: 02:07
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: no, it's a way of saying that the inflation rate applicable ONLY to "owner equivalent rents" was arbitrarily estimated to be 2%, and the use of "only" implies that a realistic estimate would have been higher.
1 hr
  -> blah blah
agree  philgoddard: Yes, blah blah. This is as good a guess as any.
19 hrs
  -> thanks
agree  Yvonne Gallagher: my immediate first response was "convoluted"
1 day 13 hrs
  -> thanks Yvonne
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
coming in with inflation at “only” 2%
being incorporated in the overall inflation index with an inflation rate estimated at “only” 2%


Explanation:
Some market commentators dismissed the US inflation numbers due to OERs (owner equivalent rents, a proxy for housing costs in the US which constitute a large part of CPI) coming in with inflation at “only” 2%.
=
Some market commentators dismissed the US inflation numbers due to OERs (owner equivalent rents, a proxy for housing costs in the US which constitute a large part of CPI) being incorporated in the overall price inflation index with an estimated inflation rate (a rate applicable to these OERs, not the overall inflation rate) at “only” 2%.

the "inflation rate" of total expenditures / spending of household has several components including spending on food, clothing, electricity etc etc and also on "costs of housing".

For those households paying a rent, it's an actual amount, but owner-occupiers DO NOT "pay" any rent to themselves - these OERs (owner equivalent rents) are NOT real payments, just an estimate, a purely statistical construct created to make the "spending" of "owner-occupiers" comparable to what renters have to spend.

Being an estimate only, these figures are open to "creative interpretation" - here according to "some market commentators" these estimates are unrealistically low (“only” 2%), and as a consequence these deflated "estimates" of OERs are artificially pushing down / underestimating the overall inflation rate of household expenditures.





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Note added at 5 hrs (2021-06-14 00:25:12 GMT)
--------------------------------------------------

another way of saying it:

"some market commentators" are accusing the official inflation statistics of "cooking the books" to make overall inflation look lower than it really is.


--------------------------------------------------
Note added at 5 hrs (2021-06-14 00:42:22 GMT)
--------------------------------------------------

spending of households ...

Daryo
United Kingdom
Local time: 02:07
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 7

Peer comments on this answer (and responses from the answerer)
agree  Z-Translations Translator: Well said Daryo. https://www.investopedia.com/terms/o/owners-equivalent-rent....
3 hrs
  -> Thanks!
agree  Luis M. Sosa: Strongly agree with interpretation and translation.
13 hrs
  -> Well, all this is no more than "Statistics 101", no Ph.D. required, but it seems that it could have been as well written in Aramaic or Sanskrit for some ... the whole point of being "native" in specialised subjects. Thanks!
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2 days 29 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
inflation numbers coming out from a report with inflation at only 2%


Explanation:
It is easier to understand if you reconstruct the sentence like this:

Some market commentators dismissed the US inflation numbers coming in with inflation at “only” 2%, due to the OERs (owner equivalent rents, a proxy for housing costs in the US which constitute a large part of CPI).

Inflation (percentage change in CPI, Consumer Price Index) in the U.S. is compiled by the Bureau of Labor Statistics. Below is an excerpt form the Bureau of Labor Statistics website:

The expenditure weight in the CPI market basket for Owners’ equivalent rent of
primary residence (OER) is based on the following question that the Consumer
Expenditure Survey asks of consumers who own their primary residence:

“If someone were to rent your home today, how much do you think it
would rent for monthly, unfurnished and without utilities?”

The following questions, asked of consumers who rent their primary residence, are
the basis of the weight for Rent:

“What is the rental charge to your [household] for this unit including any
extra charges for garage and parking facilities? Do not include direct
payments by local, state or federal agencies. What period of time does this
cover?”

https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-an...

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Note added at 2 days 35 mins (2021-06-15 19:40:28 GMT)
--------------------------------------------------

Market commentators dismissed an inflation rate of only 2%. They think it should be higher. Due to the way OERs were captured, it underestimated the rising cost of housing.

--------------------------------------------------
Note added at 3 days 10 hrs (2021-06-17 05:44:51 GMT)
--------------------------------------------------

I think I misunderstood the context. Now I think the context means: OERs inflation reported at only 2%, overall inflation reported at 4.2%. Some commentators did not believe OERs inflation was at only 2%. They think that OERs inflation should be higher. Since OERs are one component of the overall inflation, when OERs go up, so too will the overall inflation number.

Kiet Bach
United States
Local time: 18:07
Specializes in field
Native speaker of: Native in ChineseChinese
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: Misinterpretation: the 2% is NOT the "overall inflation rate" it's an "inflation rate" applicable to/specific to OERs only // You are confusing the "inflation" of just ONE component (=2%) with the "inflation" of the overall household expenditures (=4.2%)
19 hrs
  -> I think you are right.
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Reference comments


2 hrs peer agreement (net): +2
Reference: Ref.

Reference information:
Laura:

I am just commenting re this phrase which I don't understand either: "Market commentators dismiss headline inflation at 4,2% because OERs inflation is only 2%? Meaning what exactly?"

The article below mentions the 4.2% (well above the prior months consumer prices), but I suspect you are conflating or trying to compare apples and oranges? I don't know. The article speaks to rising inflation as "transitory" in nature. I may be confusing this more..... Sorry, if I am.

https://www.barrons.com/articles/inflation-report-data-51623...
Inflation Climbed More Than Expected in May as the Transitory Debate Heats Up
Consumer prices rose at a faster-than-expected pace in May, extending a streak of rising price inflation as the economy reopens and demand outpaces supply.
The latest inflation report continues the debate over whether rising inflation is transitory, as Federal Reserve officials say, or something more lasting.

In particular, Citi says the 0.3% increase in owners’ equivalent rent, or OER, tends to be a more persistent component of inflation that wouldn’t be considered transitory. Clark and Hollenhorst say the OER component began to firm a few months ago, several months sooner than they had expected, and they say the return in May to a pre-Covid pace is also earlier than they had anticipated. Clark has said the OER figure tends to lag behind home prices by 12-18 months, meaning rocketing housing prices should start to show up in the CPI, if indirectly.

***On a year-over-year basis, consumer prices increased 5% in May, well above the prior month’s 4.2% rate*** and the 4.6% expected print. Core CPI was up 3.8% from a year earlier, up from a 3% pace in April and above the 3.4% rate economists predicted. Those are the fastest rates of consumer price inflation since June 2008 and June 1992, respectively.

--------------------------------------------------
Note added at 3 hrs (2021-06-13 22:21:16 GMT)
--------------------------------------------------

https://www.stlouisfed.org/publications/regional-economist/f...
Excluding Housing Costs, U.S. Inflation Is Well Below 2%
KEY TAKEAWAYS
Inflation has been running notably below the Federal Reserve’s 2% target if the cost of housing services, or shelter, is excluded.
Shelter costs have contributed to inflation to a much greater degree in recent years. This could be a worrying signal about weak underlying inflation trends.
Shelter costs may contain transitory factors not reflecting broader inflationary pressures. If shelter inflation returns to its historic average, overall inflation may undershoot 2%.

[more ...]

Taña Dalglish
Jamaica
Works in field
Native speaker of: English
PRO pts in category: 15

Peer comments on this reference comment (and responses from the reference poster)
agree  Daryo: good reference // "On a year-over-year basis, consumer prices increased 5% in May" - what they say is that it's in reality more than 5%, as one major component of this index (the OERs) has been deliberately underestimated.
2 hrs
  -> Thank you. However, given the asker's text (I don't know if these were her words?), "Market commentators dismiss headline inflation at 4.2% because OERs inflation is only 2%", I myself don't clearly understand where 4.2% comes in!
agree  Z-Translations Translator
5 hrs
  -> Thank you so much.
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