I ripped a CD to FLAC. Comparing the two versions of the same song with MediaMonkey, I noticed the original CD bit rate is 1411 kbps:
whereas the FLAC file has a bit rate of 906 kbps:
Why is this? Is this a loss of data, or just a reflection of the compression (i.e. decompression while playing reverts the bit rate back to the CD's original bit rate)?