Harmonized Index of Consumer Prices: Food for Ireland
CP0110IEM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.00
Year-over-Year Change
4.41%
Date Range
1/1/1996 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Food measures changes in the prices paid by Irish consumers for a basket of food items. It is a key economic indicator used to track inflation and assess the cost of living.
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 HICP for Food in Ireland is a subcomponent of the overall HICP, which is the primary measure of consumer price inflation across the Eurozone. It provides insights into price changes for a range of food products and helps policymakers and analysts understand broader trends in the Irish economy.
Methodology
The data is collected through surveys of retailers and consumers by Ireland's Central Statistics Office.
Historical Context
The HICP for Food is closely monitored by the European Central Bank and other policymakers to inform monetary and fiscal policy decisions.
Key Facts
- The HICP for Food in Ireland has a base year of 2015.
- Food accounts for approximately 15% of the total Irish consumer price index.
- Prices for food and non-alcoholic beverages rose 9.7% in Ireland in 2022.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Food measures changes in the prices paid by Irish consumers for a basket of food items.
Q: Why is this trend relevant for users or analysts?
A: The HICP for Food is a key indicator of inflationary pressures and the cost of living in Ireland, providing insights for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and consumers by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: The HICP for Food is closely monitored by the European Central Bank and other policymakers to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The HICP for Food data is published monthly with a relatively short delay, providing timely insights into Irish consumer price trends.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Food for Ireland (CP0110IEM086NEST), retrieved from FRED.