The Import Price Index measures the change in the price of goods and services purchased from abroad by domestic residents. It is a key indicator of imported inflation, reflecting how global price fluctuations and currency movements affect domestic price levels. When import prices rise, they often pass through to consumers, leading to higher headline inflation. This data is crucial for central banks when assessing the need for interest rate adjustments to maintain price stability.
The index is calculated by the Bureau of Labor Statistics (BLS) using price data collected from a representative sample of importers. It employs a Laspeyres formula to aggregate price changes across various commodity categories, weighted by their share in total imports.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Apr 16, 2013 | -0.30 | -0.20 | -0.10 |
| Mar 15, 2013 | 0.10 | — | — |
