Construction of a new apartment building in the city

In a research note out Tuesday, Goldman Sachs economists suggested a February slowdown in housing inflation was likely temporary. In the March consumer price index data released Wednesday, they were proved right.

Goldman’s analysis was concerned with whether the rental industry would be able to weather the ongoing glut of new construction, and they believe it will. That’s good news for landlords, but not so great for renters.

The Labor Department’s CPI tracks housing price inflation several ways. Housing costs for both renters – the category known as “rent of primary residence” – and for owners, a metric called “owner’s equivalent rent” –…