The article explores how changes in exchange rates affect import prices in different countries. The researchers looked at data from twenty-five OECD countries and found that in the short term, exchange rate changes only partially affect import prices. In the long term, most imported goods are priced in the currency of the producer. Higher inflation and exchange rate volatility tend to lead to higher pass-through of exchange rates into import prices. However, the main factors influencing changes in pass-through over time are related to the types of industries that a country imports from.