Import Price Index
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This dataset presents indexes measuring changes in the prices of imports of merchandise that are shipped from Australia each quarter (the Import Price Index).

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For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.

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From the September quarter 2012, all index numbers are calculated with an index reference period of 2011–12=100.0. This results in the index numbers for each index being set to 100.0 for the financial year 2011–12.

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Quarterly

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The sampling process for the producer and international trade price indexes comprises the selection of goods and services appropriate to each of the indexes, identification of businesses which produce (or consume) such products, and the selection of individual items produced or used by those businesses to be priced on an ongoing basis.

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Index numbers for selected sections of the Standard International Trade Classification (SITC) are provided. The SITC (Revision 4) used from the September quarter 2008 onwards is the United Nations' updated version, replacing SITC (Revision 3). SITC (Revision 4) retains the overall structure of SITC (Revision 3) and consists of the same number of sections, divisions and groups. The export price index is also presented by Balance of Payments Classification of Exports which have been disaggregated into balance of payments groupings of rural goods, non-rural goods and non-monetary gold.

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The import price index is an annually reweighted chained Laspeyres index. This method of weighting was introduced in the September quarter 2000 and replaces the 'fixed-base' method of weighting in which the weighting patterns are updated infrequently (generally once every 5 or 10 years).

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The annual reweighting and chaining process involves a number of steps in order to provide new weights each year. The current weighting basis for the import price index was derived from the average value of import items during 2011-12. This differs slightly from the export price index which has used the average value of export items during 2010-11 and 2011-12, due to the greater volatility associated with the value of export items. These weights were revalued to reflect link period (June quarter 2012) price levels. This means, for example, that the weights for the import price index are effectively determined using quantities from 2011-12 and prices from June quarter 2012. Indexes derived by using the new weights for the September quarter 2012 were then linked to the already published June quarter 2012 (link period) levels which were derived using the previous series weights. Using this methodology, long-term chain linked series can be constructed over time on a consistent reference base for continuity and user convenience, but using annually refreshed weights. The import price index is also presented by Balance of Payments Broad Economic Categories, which have been disaggregated into balance of payments groupings of consumption goods, capital goods and intermediate and other merchandise goods. From the September quarter 2008 onwards, the previous heading of Classification of Broad Economic Categories (BEC) End Use, has been replaced with Balance of Payments Broad Economic Categories. This is simply a name change, with the series remaining comparable to previously published series. The reference base for each index series will remain 2011-12=100 even though the weights are being updated each year.

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Import Price IndexAbstract

This dataset presents indexes measuring changes in the prices of imports of merchandise that are shipped from Australia each quarter (the Import Price Index).

Contact person/organisation

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.

Sampling

The sampling process for the producer and international trade price indexes comprises the selection of goods and services appropriate to each of the indexes, identification of businesses which produce (or consume) such products, and the selection of individual items produced or used by those businesses to be priced on an ongoing basis.

Periodicity

Quarterly

Base period

From the September quarter 2012, all index numbers are calculated with an index reference period of 2011–12=100.0. This results in the index numbers for each index being set to 100.0 for the financial year 2011–12.

Item coverage

The import price index excludes some items (representing less than 5% of the value of merchandise imported during the weighting period) because of the inherent difficulties in pricing the items to constant quality. For further details, please refer to the Explanatory Notes below.

Explanatory Noteshttp://www.abs.gov.au/ausstats/abs@.nsf/exnote/6457.0
Key statistical concept

Please refer to the link below on PPI and ITPI CSM.

PPI and ITPI: Concepts, Sources and Methodshttp://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6429.02006?OpenDocument
Classification(s) used

Index numbers for selected sections of the Standard International Trade Classification (SITC) are provided. The SITC (Revision 4) used from the September quarter 2008 onwards is the United Nations' updated version, replacing SITC (Revision 3). SITC (Revision 4) retains the overall structure of SITC (Revision 3) and consists of the same number of sections, divisions and groups. The export price index is also presented by Balance of Payments Classification of Exports which have been disaggregated into balance of payments groupings of rural goods, non-rural goods and non-monetary gold.

Index type

The import price index is an annually reweighted chained Laspeyres index. This method of weighting was introduced in the September quarter 2000 and replaces the 'fixed-base' method of weighting in which the weighting patterns are updated infrequently (generally once every 5 or 10 years).

Weights

The annual reweighting and chaining process involves a number of steps in order to provide new weights each year. The current weighting basis for the import price index was derived from the average value of import items during 2011-12. This differs slightly from the export price index which has used the average value of export items during 2010-11 and 2011-12, due to the greater volatility associated with the value of export items. These weights were revalued to reflect link period (June quarter 2012) price levels. This means, for example, that the weights for the import price index are effectively determined using quantities from 2011-12 and prices from June quarter 2012. Indexes derived by using the new weights for the September quarter 2012 were then linked to the already published June quarter 2012 (link period) levels which were derived using the previous series weights. Using this methodology, long-term chain linked series can be constructed over time on a consistent reference base for continuity and user convenience, but using annually refreshed weights. The import price index is also presented by Balance of Payments Broad Economic Categories, which have been disaggregated into balance of payments groupings of consumption goods, capital goods and intermediate and other merchandise goods. From the September quarter 2008 onwards, the previous heading of Classification of Broad Economic Categories (BEC) End Use, has been replaced with Balance of Payments Broad Economic Categories. This is simply a name change, with the series remaining comparable to previously published series. The reference base for each index series will remain 2011-12=100 even though the weights are being updated each year.

Quality comments

Please refer to the link below on ITPI Quality Declaration.

Quality Declarationhttp://www.abs.gov.au/Ausstats/abs@.nsf/0/111C7FACBC2C3D9FCA257877001CDD58?OpenDocument