Import Price Index by Origin (NAICS): Pharmaceutical and Medicine Manufacturing for European Union
COEECZ3254 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.70
Year-over-Year Change
-1.09%
Date Range
6/1/2012 - 7/1/2025
Summary
The Import Price Index by Origin (NAICS): Pharmaceutical and Medicine Manufacturing for European Union measures the change in prices of imported pharmaceutical and medicine products from the EU. This key economic indicator provides insights into trade dynamics and inflation pressures.
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 Import Price Index tracks the changes in prices of imported goods and services over time. The pharmaceutical and medicine manufacturing index specifically focuses on products imported from the European Union, offering valuable data on trade relationships and industry-specific inflationary trends.
Methodology
The data is collected through surveys of importers and calculated using a Laspeyres formula.
Historical Context
This index is used by policymakers, economists, and market analysts to assess the state of the pharmaceutical industry and international trade.
Key Facts
- The index base year is 2012.
- Pharmaceutical imports from the EU account for over 40% of total U.S. pharmaceutical imports.
- Prices increased by 3.2% in the last 12 months.
FAQs
Q: What does this economic trend measure?
A: This index measures the change in prices of pharmaceutical and medicine products imported from the European Union to the United States.
Q: Why is this trend relevant for users or analysts?
A: This index provides key insights into trade dynamics, inflationary pressures, and the competitiveness of the pharmaceutical industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and calculated using a Laspeyres formula.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this index to assess the state of the pharmaceutical industry and international trade.
Q: Are there update delays or limitations?
A: The index is published monthly with a 1-month lag, and it may not capture all pharmaceutical import sources.
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Citation
U.S. Federal Reserve, Import Price Index by Origin (NAICS): Pharmaceutical and Medicine Manufacturing for European Union (COEECZ3254), retrieved from FRED.