Price Level of Imports for Australia
PLMCPPAUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.69
Year-over-Year Change
11.29%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Imports for Australia measures the change in prices of goods and services imported into Australia. This metric is a key indicator of international trade and domestic 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 Price Level of Imports for Australia tracks the cost of imported goods and services over time. It is used by economists and policymakers to assess the impact of international trade on the Australian economy and to inform monetary and fiscal policy decisions.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics.
Historical Context
This import price index is closely monitored by the Reserve Bank of Australia and other government agencies to gauge inflationary trends and the competitiveness of Australian exports.
Key Facts
- Australia is a major importer of goods and services.
- Import prices affect the cost of living and business inputs.
- Monitoring this index helps policymakers manage the economy.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Australia measures the change in prices of goods and services imported into the country over time.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding international trade dynamics, domestic inflation pressures, and the competitiveness of Australian exports.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: The Reserve Bank of Australia and other government agencies closely monitor this import price index to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with minimal delays, providing timely information for policymakers and analysts.
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Citation
U.S. Federal Reserve, Price Level of Imports for Australia (PLMCPPAUA670NRUG), retrieved from FRED.