Inflation metrics are tools used to measure the rate at which prices for goods and services rise over time. Common metrics include the Consumer Price Index (CPI) and the Producer Price Index (PPI). The CPI tracks changes in the price of a basket of consumer goods, while the PPI measures price changes from the perspective of producers. These metrics help economists and policymakers understand the health of the economy. High inflation can erode purchasing power, while low inflation may indicate weak demand. Monitoring these metrics allows for informed decisions regarding monetary policy and economic planning.