u/ElectronicPass2547

I received a renewal notice from my landlord proposing a 10% increase . Rental index shows 5%. I know I can fight to keep it at 5% but what baffles me is the fact that rental index is actually showing a rent increase. I thought the market was softening. I was expecting no increase

My lease expires on 12 August. How often does the rental index update ? Should I wait for few weeks to see if anything changes ?

Any inputs ?

Thanks