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 November 2014 data shows the Midwest inflation rate decreased in both urban metros and non-metro urban areas from October to November.
The Producer Price Index data shows that prices in the United States have increased from November 2013 to November 2014 for aircraft (1.7 percent), natural gas (1.2 percent), and slaughter livestock (31.0 percent). During that same time period, crude petroleum decreased 17.4 percent, sorghum prices decreased 7.8 percent and wheat decreased 9.3 percent.
