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The index reflects the change in import prices for a month. It is an indicator of inflation. Since for calculating Consumer Price Index (CPI) prices for imported goods and services are taken into account, this indicator describes the contribution of import prices in the overall picture of changes in retail prices of the consumer basket.
It has a limited impact on the market. With expectations of an increase in basic interest rates, the increase of the index leads to an increase in the rate of dollar.
- Release Frequency: monthly.
- Release Schedule: 08:30 EST, about the 10th of each month, along with "Export Prices".
- Source: Bureau of Labor Statistics.