Originally Posted by Wikipedia
The bitrate depends on several factors:
The information may be digitally compressed by different algorithms or to different degrees
- 500 kbit/s–1 Mbit/s – lossless audio as used in formats such as Free Lossless Audio Codec, WavPack or Monkey's Audio
- 1411.2 kbit/s – PCM sound format of Compact Disc Digital Audio
Lossless compression does have a bitrate lower than the uncompressed stereo PCM (I mean it has to otherwise why encode right?)
Originally Posted by exoticaga
The compression used in lossless encoding also means it retains every information bit of the original wav in a packed file. Unpack a lossless audio file it will uncompress back to the exact same wav file as was used before compressing it
Sure, but bitrate refers to the amount of data per second AFTER compression, not the RAW data. Because FLAC makes the same data smaller it has a lower bitrate.
Flac < WAV = lower bitrate!