Neva Safo

Shelter costs make up about a third of the overall consumer price index, so they have a significant impact on inflation readings.

Jenny Schutz is a housing economist at the nonprofit research firm Arnold Ventures.

The good news is that home prices are moderating and rental housing supply is improving.

Pushing down national averages for asking rents.

According to Realtor.com, asking rents fell more than one and a half percent in February.

So where's all this in the CPI report?

Jake Krimmel is senior economist at Realtor.com.

So part of it has to do with what we're measuring and what CPI measures.

They differ.

For example, the Bureau of Labor Statistics is looking at new rents and old rents, so to speak.

Not right away, at least.

Also, a big chunk of the shelter calculation is owner-equivalent rents, what people think their homes would rent for.

That measure has a lag as well, as homeowners' expectations adjust.

Krimmel says the CPI will eventually catch up, but don't expect shelter inflation to go too much lower than its current 3 percent.

Meaning the burden to pull inflation lower will likely fall on other elements of the CPI.

I'm Neva Safo for Marketplace.

Microsoft's announcement comes amid growing public backlash against data centers.

That backlash has led to tens of billions of dollars in projects being delayed or canceled in recent months.

Rima El-Aili heads Microsoft's infrastructure legal affairs team.

The biggest concerns have been rising electricity costs and the large amounts of water many data centers consume for cooling.