The Consumer Price Index is used to calculate inflation, or the change in price of a basket of goods and services, as it impacts consumers; whereas, the Producer Price Index measures changes in selling prices, thereby expressing price changes from the perspective of the seller who produces a particular commodity.
A slide presentation updated with May 2013 data shows the Midwest inflation rate increased from April to May for both urban metros and non-metro urban areas. The Producer Price Index data shows that prices in the United States have increased from May 2012 to May 2013 for aircraft, crude petroleum, slaughter livestock, sorghum and wheat, with natural gas having the largest percentage increase in prices of 94.6 percent.
