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Import Price Index
 
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    NAME OF ORGANISATION
    Australian Bureau of Statistics (ABS)

    OVERVIEW
    The Import Price Index measures changes in prices of imports of merchandise into Australia.

    PURPOSE
    The main uses of the indexes are:

    • in the calculation of constant price National Accounts estimates.
    • for economic analysis.
    • for contract adjustment.

    SCOPE
    The Import Price Index measures changes in prices of imports of merchandise into Australia. The index numbers for each quarter relate to prices of imports landed in Australia during the quarter. The index, either directly or indirectly, covers about 95 per cent of merchandise imported during 1999-2000. About ninety three per cent of the items are directly represented. Two per cent of the items are not directly represented, however these items are indirectly represented by directly priced imports whose prices are considered to move similarly.

    DATA DETAIL

    Conceptual framework
    The index, either directly or indirectly, covers about 95 per cent of merchandise imported during 1999-2000. About ninety three per cent of the items are directly represented. Approximately two per cent of the items are not directly represented, however these items are indirectly represented by directly priced imports whose prices are considered to move similarly. Relevant directly represented items therefore carry not only the weight of priced items but also the weight of these unpriced items.

    Approximately five per cent of all merchandise imported is neither directly nor indirectly represented because of the inherent difficulties in pricing the items to a constant quality. These unrepresented items include:

    • jewellery and other articles of precious metal n.e.s.;
    • military equipment;
    • special transactions;
    • commodities not classified according to kind;
    • works of art, collectors pieces, antiques; and
    • ships of various types.

    The index is a fixed weights index. The items included in the index were selected on the basis of the value of merchandise imports landed in Australia during 1999-2000.

    Main outputs
    The main outputs are presented in the quarterly International Trade Price Indexes, Australia (ABS Cat. no. 6457.0).

    Classifications
    Following analysis of the results of a survey of users of the index, the Standard International Trade Classification (SITC), Revision 3 was chosen as the primary classification system for the new index. To comply with international statistical agreements, indexes are also available on request published according to the Harmonised Tariff Item Statistical Classification (HTISC), based on the international Harmonised System (HS).

    Indexes are also produced classified according to the 1993 edition of the Australian and New Zealand Standard Industrial Classification (ANZSIC), (previously Australian Standard Industrial Classification (ASIC), 1983 edition), the 1986 edition of the United Nations' Classification by Broad Economic Categories (BEC) and by Balance of Payment's BEC End-use categories.

    Other concepts (summary)
    All concepts have been noted in Conceptual Framework.

    GEOGRAPHIC DETAIL
    Australia

    Comments and/or Other Regions


    COLLECTION FREQUENCY
    Quarterly

    Frequency comments
    Up to, and including, June 1997 collection was monthly. From that date collection is quarterly.

    COLLECTION HISTORY
    The Import Price Index is compiled quarterly from September quarter 1997. From April 1991 to June 1997 it was compiled on a monthly basis. Prior to April 1991 it had been compiled as a quarterly series, on the reference base: 1981-82 = 100.0 from the September quarter 1981 until June quarter 1991.

    DATA AVAILABILITY
    Yes

    Data availability comments
    A large amount of data is available through special data services, utilising the GSSS package.


    DATE OF LAST UPDATE FOR THIS DOCUMENT
    27/02/2003 05:38 PM



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