Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Ireland
CP1231IEM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.30
Year-over-Year Change
-1.20%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Ireland tracks the prices of these items in the Irish consumer market. This metric is crucial for monitoring inflation and consumer demand trends within the jewelry and timepiece sectors.
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
This index is part of the Harmonized Index of Consumer Prices (HICP), a key economic indicator used by the European Union to assess price stability across member states. The Jewellery, Clocks and Watches component provides insight into a specific consumer goods category.
Methodology
The data is collected through surveys of retailers and service providers across Ireland.
Historical Context
Policymakers and analysts use this index to understand consumer behavior and inflationary pressures in the luxury goods market.
Key Facts
- The base year for this index is 2015.
- Jewellery, Clocks and Watches account for approximately 1.2% of the Irish consumer basket.
- Prices in this category have risen by 8.3% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This index tracks the prices of jewellery, clocks, and watches in the Irish consumer market as part of the broader Harmonized Index of Consumer Prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures and consumer demand within the luxury goods sector, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Ireland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand consumer behavior and inflationary pressures in the luxury goods market, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Ireland (CP1231IEM086NEST), retrieved from FRED.