As the second half of 2021 approaches, the CRE market gains further traction as the economy stabilizes and investors gain more clarity. Compared to previous recoveries, inflation is running hot. According to CoStar, headline inflation in May was up 0.6% over April, higher than expectations and boosting the year-over-year rate to 5%, the fastest rate since 2008. The Consumer Price Index (CPI) hovers around 3% and will for the rest of the year before dropping toward 2% in 2022, according to Vanguard. The coming weeks should provide more clarity around how members of the Federal Reserve think about the recent stronger-than-expected inflation.