Inflation is a word all consumers have become familiar with over the last 12 months. Put simply, it defines a broad rise in the price of goods and services, and right now shoppers are feeling it at the grocery store, at the gas pump, and even at the car dealership.

The primary measure of inflation is the Consumer Price Index (CPI), which is released by the Bureau of Labor Statistics (BLS) once per month. It hit a 40-year high in June 2022 on an annualized basis, alarming economists and fueling the sell-off in the stock market.

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Source Fool.com