In the month of July, the average cost of housing skyrocketed so drastically that it accounted for about 90% of all inflation in the United States.

As reported by the Daily Caller, the latest data from the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI), released on Wednesday, shows that shelter costs rose by 5.1% year-over-year and 0.4% month-over-month. By contrast, costs had risen by just 0.2% in the month of June. Predictions by analysts at Bank of America had expected the monthly increase to be 0.3%.

When breaking down the dramatic July increases, the biggest contributors to the rise in shelter costs included a 0.5% increase in rent, a 0.4% increase in owners’ equivalent rent, and a 0.2% increase in lodging.

“Rents are up 22.3% since Jan ’21, but this metric suffers from large lags and will continue marching higher in the months ahead as it incorporates today’s price changes,” said E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, on X.

Since the beginning of the Chinese Coronavirus pandemic in March of 2020, rents and owners’ equivalent rent have risen by about 24%. Overall inflation has risen by 22% in the same time period.

Overall inflation remained stubbornly high in July, at 2.9% year-over-year. Inflation has consistently been ranked as a top concern for voters ahead of the November election, with the United States experiencing the biggest surge in inflation since the late 1970s.