A Public IP address is the one which is globally recognizable and our ISP (Internet Service Provider) or IANA provides the same. Public IP identifies our home network to the outside world. It is an IP address that is unique throughout the entire Internet. Each customer who uses the Global/Public IP address Block needs to pay the Service Provider or IANA.
Unlike Public Addresses, Private IP addresses never leave the LAN network, just as public IP address is never used inside your network. Additionally, customer need not pay for private IP address blocks used inside the LAN environment.
Further, below table details on difference between Public IP Addresses and Private IP addresses –