Grocery shopping in Rosemead, California on April 21, 2022.
Frederic J. Brown | Afp | Getty Images
Inflation jumped to a new 40-year high in June, the U.S. Bureau of Labor Statistics reported Wednesday. That means the prices Americans pay at the gas pump, grocery store and elsewhere have been rising much faster than normal this year.
That may lead you to wonder: How much have my personal household costs increased, and how does that stack up against the average American’s?
Calculating your personal inflation rate can help answer these questions.
The Consumer Price Index is a common inflation measure. Households paid 9.1% more money in June 2022 for a broad basket of goods and services relative to that same basket in June 2021 — the largest annual jump since November 1981.
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