Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Ireland
IRLCP020000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.23
Year-over-Year Change
-52.23%
Date Range
11/1/1983 - 4/1/2025
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics measures price changes for these consumer goods in Ireland. It is a key indicator of inflation and cost of living trends for policymakers and analysts.
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 Alcoholic Beverages, Tobacco and Narcotics index tracks the prices of a basket of alcoholic drinks, tobacco products, and narcotics purchased by Irish consumers. It is part of the broader Harmonized Index of Consumer Prices (HICP) framework used across the European Union.
Methodology
The data is collected through surveys of prices at retail outlets and service providers across Ireland.
Historical Context
This CPI component is used by the European Central Bank and Irish government agencies to monitor inflation and make policy decisions.
Key Facts
- Alcoholic beverages, tobacco, and narcotics account for about 6% of the Irish consumer price basket.
- CPI for this category has risen by an average of 2.5% per year over the past decade.
- Taxes make up a large portion of the final prices for many products in this CPI component.
FAQs
Q: What does this economic trend measure?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics measures changes in the prices of these consumer goods purchased by households in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This CPI component is an important indicator of inflation and cost-of-living pressures, particularly for lower-income consumers who spend a larger share of their budgets on these goods.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of prices at retail outlets and service providers across Ireland.
Q: How is this trend used in economic policy?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics is used by the European Central Bank and Irish government agencies to monitor inflation and inform policy decisions.
Q: Are there update delays or limitations?
A: The CPI data is published monthly with a lag of around two weeks, providing timely information on price trends.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Ireland (IRLCP020000GYM), retrieved from FRED.