64:. The IPP continued to expand by introducing selected services indexes. Various transportation services indexes were added to the IPP in the late 1980s. Research is continuing on other international services as data and resources become available. Beginning in 1989, BLS began producing a limited number of indexes on a monthly basis. With the release of March 1992 data, IPP added import locality of origin indexes, and in January 1993 began monthly publication of the major merchandise indexes. In 2005, the IPP expanded its output of import price indexes based on locality of origin to include
149:
An increase of 20 percent from the base period in the Export Price Index, for example, is shown as 120.0, which can be expressed in dollars as follows: “Prices received by domestic producers of a systematic sample of finished goods have risen from $ 100 in the base period, December 2001, to $ 120
145:
Movements of price indexes from one month to another usually should be expressed as percent changes, rather than as changes in index points, because the latter are affected by the level of the index in relation to its base period, while the former are not. Each index measures price changes from a
110:
of 2002 (Title 5 of Public Law 107-347) protects the confidentiality of the data provided by the respondents. Price data that is not received directly from survey respondents, referred to as secondary source data, is also used in the calculation of some indexes, including petroleum, ocean tanker
101:
Most of the relevant price data is collected by a fielded survey directed at U.S. importers and exporters. Respondent participation is voluntary, and cooperation of survey respondents in providing data is necessary for the Bureau to perform its responsibilities as mandated by
Congress. The data
44:
gave more impetus to the project. In their study, "Price
Competitiveness in World Trade," Kravis and Lipsey outlined the need for such measures and the feasibility of producing them. During this time, the Bureau's Division of Price and Index Number Research began research on the feasibility of
92:
The target universe of the import and export price indexes consist of all goods and services sold by U.S. residents to foreign buyers (exports) and purchased from abroad by U.S. residents (imports). Items for which it is difficult to obtain consistent with time series core comparable products,
48:
The IPP produced its first annual international price indexes in 1973. Largely as a response to changing international economic conditions and the need on the part of both the
Federal Government and the private sector to obtain these data on a more timely basis, collection and publication of
36:. The report for Congress' Joint Economic Committee suggested that indexes be assigned to a federal statistical agency "to obtain the attention and resources for these indexes that we believe are essential." A further study undertaken for NBER by Professors
93:
however, such as works of art, are excluded. Products that may be purchased on the open market for military use are included, but goods exclusively for military use are excluded. Only selected services for transportation areas are included.
107:
20:
measure average changes in prices of goods and services that are imported to or exported from the U.S.. The indexes are produced monthly by the
International Price Program (IPP) of the
150:
today.” Likewise, a current index of 133.3 would indicate that prices received by producers of export goods today are one-third higher than what they were in
December 2001.
49:
international price indexes were begun on a quarterly basis in 1974. The IPP increased the commodity area coverage and detail of its indexes as more samples were initiated.
137:
Calculation weights are derived from the dollar values found on the sampling frames and from trade dollar values compiled by the Bureau of the Census for the base year.
134:
provides the sampling frames for the air freight price indexes. The reference period for a sampling frame is generally the most recent available 12 months.
281:
131:
197:
National Bureau of
Economic Research, Price Statistics Review Committee. "Report on the Price Statistics of the Federal Government." New York. 1961.
81:
130:
for exports to the rest of the world. Data sources for services are researched and developed separately for each category. For example, the
179:
33:
286:
57:
45:
producing import and export price indexes. The IPP was a result of this research and was established as an ongoing program in 1971.
206:
Kravis, Irving G., and Robert Lipsey. Price
Competitiveness in World Trade. National Bureau of Economic Research, New York. 1971.
32:
The origins of the
International Price Program (IPP) can be traced to a 1961 report on Federal Price Statistics prepared by the
53:
159:
103:
21:
61:
119:
276:
24:. The Import and Export Price Indexes were published quarterly starting in 1974 and monthly since 1989.
240:
169:
164:
127:
115:
56:
placed the IPP indexes on its list of
Principal Federal Economic Indicators together with the
41:
73:
52:
In 1982 full coverage in the import and export goods categories was available and the
270:
37:
235:
77:
222:
174:
261:
69:
123:
65:
256:
108:
Confidential
Information Protection and Statistical Efficiency Act
118:. The export merchandise sampling frames are obtained from the
114:
The import merchandise sampling frames are obtained from the
236:
The IPP introduces additional Locality of Origin indexes
8:
88:Scope of the Export and Import Price Indexes
146:reference period defined to equal 100.0.
28:History of the International Price Program
214:
212:
223:Chapter 15: International Price Indexes
190:
82:Association of South East Asian Nations
7:
180:FRED (Federal Reserve Economic Data)
34:National Bureau of Economic Research
18:U.S. Import and Export Price Indexes
282:Foreign trade of the United States
14:
84:(ASEAN), and the Asia Near East.
54:Office of Management and Budget
106:is strictly confidential. The
1:
111:freight, and grains indexes.
234:McCulley and Swartz. 2005. "
132:Department of Transportation
303:
287:Bureau of Labor Statistics
160:Bureau of Labor Statistics
104:Bureau of Labor Statistics
22:Bureau of Labor Statistics
141:Calculating index changes
120:Canadian Customs Service
219:BLS Handbook of Methods
241:Monthly Labor Review
225:, Background section
170:Producer Price Index
165:Consumer Price Index
128:Bureau of the Census
116:U.S. Customs Service
62:Producer Price Index
58:Consumer Price Index
262:Get IPP statistics
102:collected by the
294:
257:The IPP homepage
245:
232:
226:
216:
207:
204:
198:
195:
302:
301:
297:
296:
295:
293:
292:
291:
267:
266:
253:
248:
233:
229:
217:
210:
205:
201:
196:
192:
188:
156:
143:
122:for exports to
99:
90:
30:
12:
11:
5:
300:
298:
290:
289:
284:
279:
269:
268:
265:
264:
259:
252:
251:External links
249:
247:
246:
227:
208:
199:
189:
187:
184:
183:
182:
177:
172:
167:
162:
155:
152:
142:
139:
98:
95:
89:
86:
74:United Kingdom
29:
26:
13:
10:
9:
6:
4:
3:
2:
299:
288:
285:
283:
280:
278:
277:Price indices
275:
274:
272:
263:
260:
258:
255:
254:
250:
243:
242:
237:
231:
228:
224:
220:
215:
213:
209:
203:
200:
194:
191:
185:
181:
178:
176:
173:
171:
168:
166:
163:
161:
158:
157:
153:
151:
147:
140:
138:
135:
133:
129:
126:and from the
125:
121:
117:
112:
109:
105:
96:
94:
87:
85:
83:
79:
75:
71:
67:
63:
59:
55:
50:
46:
43:
42:Robert Lipsey
39:
38:Irving Kravis
35:
27:
25:
23:
19:
239:
230:
218:
202:
193:
148:
144:
136:
113:
100:
97:Data sources
91:
51:
47:
31:
17:
15:
78:Pacific Rim
271:Categories
186:References
175:Inflation
154:See also
70:Germany
124:Canada
80:, the
76:, the
72:, the
66:France
60:and
40:and
16:The
273::
238:.
221:,
211:^
68:,
244:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.