Here’s what you need to know about inflation

Americans paid much higher prices for goods and services in June compared to a year earlier as inflation continued to rise. This is reported by the Bureau of Labor Statistics..

consumer price index is one of the main indicators of inflation. The CPI jumped to 9.1% last month from a year ago, above the Dow Jones estimate of 8.8%. It was the fastest rate of inflation in four decades.

Watch this video where CNBC’s Emily Lorsch explains inflation and its causes.