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 January 2015 data shows the Midwest inflation rate decreased in both urban metros and non-metro urban areas from December to January.
The Producer Price Index data shows that prices in the United States have increased from January 2014 to January 2015 for aircraft (1.6 percent) and slaughter livestock (8.4 percent). During that same time period, crude petroleum decreased 54.5 percent, natural gas 30.1 percent, sorghum 7.5 percent and wheat decreased 9.3 percent.
