Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Ireland
CPGREN01IEQ659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.86
Year-over-Year Change
-105.41%
Date Range
1/1/1976 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Energy in Ireland measures changes in the prices paid by consumers for energy-related goods and services. This metric is crucial for economists and policymakers to assess inflationary pressures and cost-of-living 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 CPI for Energy in Ireland is a component of the broader Consumer Price Index (CPI), which tracks the average change in prices paid by consumers for a basket of goods and services. The Energy CPI specifically focuses on energy-related items such as electricity, natural gas, heating oil, and motor fuels.
Methodology
The data is collected through a nationwide survey of consumer prices.
Historical Context
The Energy CPI is closely monitored by the Central Bank of Ireland and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- The base year for the Ireland Energy CPI is 2015.
- Energy accounts for approximately 10% of the total Irish CPI basket.
- The Energy CPI reached a record high in 2022 due to global energy price volatility.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Energy in Ireland measures changes in the prices paid by consumers for energy-related goods and services, such as electricity, natural gas, heating oil, and motor fuels.
Q: Why is this trend relevant for users or analysts?
A: The Energy CPI is a crucial indicator for economists and policymakers to assess inflationary pressures and cost-of-living trends in Ireland, as energy is a significant component of household expenditures.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: The Energy CPI is closely monitored by the Central Bank of Ireland and other economic institutions to inform monetary and fiscal policy decisions, particularly those related to inflation and cost-of-living concerns.
Q: Are there update delays or limitations?
A: The Energy CPI for Ireland is published monthly with a relatively short delay, making it a timely indicator of energy price trends.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Ireland (CPGREN01IEQ659N), retrieved from FRED.