The Effects of Oil Prices on Inflation


  • Inflation is tracked with two metrics primarily: consumer price index (CPI) and producer price index (PPI).
    • Each series is indexed for the year 1982.
    • CPI roughly tracks the cost of a hypothetical basket of goods at the consumer level whereas PPI tracks the same basket of goods at the producer level.
  • Fluctuations in oil prices have a far greater correlation to PPI than to CPI.
    • The transportation costs of goods to their final sales markets are included in producer price index rather than consumer price index, explain this relationship.


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Grouped by Index

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