Consumer Price Index: Harmonized Prices: Miscellaneous Goods and Services (COICOP 12): Total for Ireland
IRLCPHP1200GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.30
Year-over-Year Change
-250.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices: Miscellaneous Goods and Services (COICOP 12) in Ireland measures changes in the prices of a variety of consumer goods and services. This index is a key indicator of inflation and consumer spending trends.
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 IRLCPHP1200GPM series tracks the overall price level for a basket of miscellaneous goods and services purchased by Irish consumers, such as personal care, social protection, insurance, and financial services. It is an important gauge of consumer price dynamics and broader economic conditions.
Methodology
The data is collected through surveys of consumer expenditures and prices by Ireland's Central Statistics Office.
Historical Context
Policymakers and analysts use this CPI measure to inform monetary and fiscal policies aimed at maintaining price stability.
Key Facts
- Ireland's CPI for miscellaneous goods and services has increased by 5.2% over the past year.
- Prices for personal care products and services make up over 30% of this CPI component.
- The miscellaneous goods and services CPI is one of 12 main divisions that comprise Ireland's overall Consumer Price Index.
FAQs
Q: What does this economic trend measure?
A: The IRLCPHP1200GPM series measures changes in the prices of a variety of miscellaneous consumer goods and services in Ireland, including personal care, insurance, and financial products.
Q: Why is this trend relevant for users or analysts?
A: This CPI measure is an important indicator of inflationary pressures and consumer spending patterns in Ireland, which are closely watched by policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected through consumer expenditure surveys and price observations by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use this CPI measure to inform monetary and fiscal policies aimed at maintaining price stability and supporting economic growth.
Q: Are there update delays or limitations?
A: The CPI data is typically published on a monthly basis with a short lag, providing timely information on consumer price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Miscellaneous Goods and Services (COICOP 12): Total for Ireland (IRLCPHP1200GPM), retrieved from FRED.