The industrial import price index (IPI) measures the monthly transaction price development of imported goods purchased from non-domestic areas by domestic residents. IPI permits monthly monitoring of prices for different categories of products or group of products. They are also a means to distinguish real growth of imports from price changes in the foreign trade statistics and in the national accounts. Data are compiled according to the Classification of Products by Activity (CPA). The breakdowns are based on aggregates derived from the MIGs (Main Industrial Groupings). Industrial import prices are compiled as a fixed base year Laspeyres type price-index (except for Luxembourg). The current base year is 2010 (Index 2010 = 100). Indexes, as well as both growth rates with respect to the previous month (M/M-1) and with respect to the corresponding month of the previous year (M/M-12) are compiled from raw data.
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Eurostat, the statistical office of the European Union
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