The price data collected by the International Price Program (IPP) is used to produce indexes which measure, on a monthly basis, changes in transaction prices of goods and services exported from or imported into the U.S. This published data is in turn used to deflate import and export trade statistics, deflate the foreign trade component of the GDP, determine monetary and fiscal policy, negotiate trade agreements, and determine trade and commercial policy. The respondents are establishments conducting import/export trade and receive no compensation for their participation. The IPP survey is a voluntary survey.
US Code:
29 USC 1&2
Name of Law: BLS Authorizing Statute
The annual number of responses decreased for both exports and imports because of fewer respondents in Initiation and in Repricing. Budget cuts have resulted in a reduction in Field and National Office Economists which forces IPP to scale back the number of companies selected for sampling. The lower number of responses in Initiation reflects smaller sample sizes projected for upcoming years while the lower number in Repricing reflects smaller sample sizes in previous years. (The number of respondents in Repricing is impacted by the past number of respondents in Initiation.)
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.