Americans paid much higher prices for goods and services in June than they did a year earlier, as inflation continued to rise, Bureau of Labor Statistics reported,
consumer price Index It is one of the primary measures of inflation. The CPI jumped 9.1% last month compared to a year ago, which is 8.8% higher than the Dow Jones estimate. This marked the fastest pace of inflation in four decades.
Watch this video as CNBC’s Emily Lorsch explains inflation and what causes it.