The indicator tracks changes in the import prices within a month. It is an indicator of inflation. Since at calculating of the CPI prices index the prices for imported goods and services are taken into account, this indicator describes the contribution of import prices to the overall picture of changes in retail prices for the consumer basket.
It can be an early signal of inflationary trends change, or theirconfirmation.
Effect of market
It has a limited impact on the market.
Inexpectation of increase of the basic interest rates anincrease of the index value leads to an increase of the dollar rate.