Timcast
PUBLISHED: OCTOBER 14, 2022
This most recent data is similar to inflation levels reported in each month in 2022, which have consistently shown the annual all items index at a record 40-year-high.
However, this figure does not reflect the actual cost of inflation felt by consumers because of methodological changes in government inflation calculations that began in the early 1980s. If the U.S. used the reporting method that was in place before federal officials changed the system to artificially deflate the figures, the current inflation rate would appear much higher.