U.S. inflation jumped by 9.1% in June, a four-decade high: 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 soar, the Bureau of Labor Statistics reported.

The consumer price index is one of the primary measures of inflation. CPI jumped to 9.1% last month from a year ago, above the 8.8% Dow Jones estimate. That marked the fastest pace for inflation in four decades.

Watch this video as CNBC’s Emily Lorsch explains inflation and what causes it.