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 June 2016 data shows the Midwest inflation rate saw an increase from May to June. While the urban metropolitan areas noticed a 0.76% increase, the non-metropolitan urban areas saw a smaller increase of 0.08%.
The Producer Price Index data shows that prices in the United States have increased from June 2015 to June 2016 for aircraft (0.9 percent). During that same time period, the index decreased crude petroleum (-20.3 percent), natural gas (-31.5 percent), slaughter livestock (-16.4 percent), sorghum (-8.7 percent) and wheat (-20.7 percent).