True Rate of Inflation ‘Much Higher’ Than Official Government Figures Show: Expert

Prices advertised outside of a grocery store in the Flatbush neighborhood of Brooklyn, New York City, on June 15, 2022. Spencer Platt/Getty Images

While the White House took a victory lap on Aug. 10’s declining inflation print, some experts say the true rate of inflation in the United States is much higher than the officially reported data indicate.

The Bureau of Labor Statistics (BLS) reported that the headline pace of inflation, as reflected in the Consumer Price Index (CPI), ticked down to 8.5 percent in July from a 41-year high of 9.1 percent in June.