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Handbook of Methods International Price Program Overview

International Price Program: Overview

The U.S. Import and Export Price Indexes (MXPI) measure the average change in prices over time of a representative trade basket of U.S. imports and exports. The price indexes are commonly referred to as the MXPI, where M is used for imports and X for exports. The MXPI measure inflation as experienced by importers and exporters. Imports and exports are goods and services sold or transferred across borders between U.S. and foreign residents. Prices cover nearly all goods trade and air passenger and freight services trade at a national level and for detailed industry and product categories. Locality-specific import and export price indexes are also available. Import price indexes are used to evaluate pass-through inflation, which is the phenomenon of price increases being passed through from imported inputs for U.S. production to domestic consumers. Import and export price indexes are used to track price change, calculate net input price indexes, and set contracts.