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The indicator tracks changes in the prices paid for imported goods and services. Since CPI calculation includes the prices for imported goods and services, this indicator describes the contribution of import prices in the overall picture of changes in retail prices of the consumer basket. Data on import prices are often used to study the pressure exerted by changes of foreign exchange rates to the market. Import prices decrease primarily when the national currency is strong. Economists generally pay attention to the import prices excluding energy prices, since this component is highly volatile.
- Release Frequency: quarterly.
- Source: Australian Bureau of Statistics.