Price Level of Imports for Canada
PLMCPPCAA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.70
Year-over-Year Change
11.54%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Imports for Canada measures the price changes of goods and services imported into Canada. This metric is a key indicator of international trade and the purchasing power of the Canadian dollar.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Price Level of Imports for Canada tracks the prices of a basket of goods and services purchased from other countries by Canadian consumers and businesses. This index is used to understand trends in the cost of imports and their impact on domestic inflation and trade balances.
Methodology
The data is collected by Statistics Canada through surveys of importing companies.
Historical Context
Policymakers and analysts monitor this index to assess Canada's trade competitiveness and the effects of exchange rate movements.
Key Facts
- Canada is the 9th largest importer in the world.
- Imports account for over 30% of Canada's GDP.
- The imports price index has risen over 10% since 2020.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Canada measures the change in prices of goods and services imported into the Canadian economy from other countries.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of Canada's trade competitiveness and the purchasing power of the Canadian dollar. It helps analysts understand inflationary pressures and trade balance dynamics.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Canada through surveys of importing companies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the impact of exchange rate movements and other trade factors on the Canadian economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 6 weeks.
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Citation
U.S. Federal Reserve, Price Level of Imports for Canada (PLMCPPCAA670NRUG), retrieved from FRED.