Import Price Index by Origin (NAICS): Machinery Manufacturing for Canada
COCANZ333 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.00
Year-over-Year Change
-2.27%
Date Range
6/1/2012 - 6/1/2025
Summary
The Import Price Index by Origin (NAICS): Machinery Manufacturing for Canada measures changes in import prices for machinery products from Canada. This data is closely monitored by economists and policymakers to assess trade dynamics and inflationary pressures.
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
The Import Price Index (IPI) measures changes in the prices of goods and services imported into the United States from other countries. The IPI for Machinery Manufacturing from Canada specifically tracks price changes for a basket of machinery products imported from Canada, a major trading partner.
Methodology
The data is collected through surveys of importers and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
The IPI is used by the Federal Reserve and other policymakers to analyze inflation and trade patterns.
Key Facts
- Canada is the United States' largest trading partner for machinery products.
- The IPI for Machinery Manufacturing accounts for over 10% of total U.S. imports.
- Import prices can significantly impact domestic inflation and policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Import Price Index for Machinery Manufacturing from Canada measures changes in the prices of machinery products imported from Canada to the United States.
Q: Why is this trend relevant for users or analysts?
A: This index is closely watched by economists and policymakers to assess trade dynamics, inflationary pressures, and the impact of exchange rate movements on the prices of imported goods.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers use the Import Price Index to analyze inflation and trade patterns, which can inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Import Price Index data is published monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of about two weeks.
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Citation
U.S. Federal Reserve, Import Price Index by Origin (NAICS): Machinery Manufacturing for Canada (COCANZ333), retrieved from FRED.