Import Price Index by Origin (NAICS): Mining, Quarrying, and Oil and Gas Extraction for Canada
COCANZ21 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.80
Year-over-Year Change
-11.33%
Date Range
6/1/2012 - 6/1/2025
Summary
The Import Price Index by Origin (NAICS): Mining, Quarrying, and Oil and Gas Extraction for Canada measures changes in the prices of imported goods from the Canadian mining, quarrying, and oil and gas extraction sector. This index is a key indicator of inflationary pressures and international trade dynamics.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the prices of a variety of imported natural resources and energy products from Canada, including crude oil, natural gas, and mineral ores. It provides insight into the cost of key inputs for U.S. manufacturing and energy production, as well as the state of trade relationships with major supplier countries.
Methodology
The data is collected through surveys of U.S. importers and calculated as a weighted average of price changes.
Historical Context
Policymakers and analysts use this index to assess the impact of global commodity markets and exchange rates on domestic inflation and the trade balance.
Key Facts
- Canada is the largest supplier of imported energy products to the U.S.
- Prices in this index can impact production costs for U.S. manufacturers and utilities.
- The index is published monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: The Import Price Index by Origin (NAICS): Mining, Quarrying, and Oil and Gas Extraction for Canada measures changes in the prices of imported goods from the Canadian mining, quarrying, and oil and gas extraction sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the cost of key inputs for U.S. manufacturing and energy production, as well as the state of trade relationships with a major supplier country.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. importers and calculated as a weighted average of price changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the impact of global commodity markets and exchange rates on domestic inflation and the trade balance.
Q: Are there update delays or limitations?
A: The index is published monthly by the U.S. Bureau of Labor Statistics, with a typical 1-month lag in data availability.
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Citation
U.S. Federal Reserve, Import Price Index by Origin (NAICS): Mining, Quarrying, and Oil and Gas Extraction for Canada (COCANZ21), retrieved from FRED.