Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Ireland
IRLCP030000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.20
Year-over-Year Change
1.97%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Ireland measures changes in the prices paid by Irish consumers for clothing and footwear items. This metric is a key indicator of inflationary pressures and consumer purchasing power.
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 Clothing and Footwear CPI tracks the prices of a basket of clothing and footwear products commonly purchased by Irish households. It is used by economists and policymakers to assess the impact of price changes on consumer budgets and monitor overall price stability.
Methodology
The data is collected by Ireland's Central Statistics Office through regular consumer surveys and retail price observations.
Historical Context
The Clothing and Footwear CPI feeds into Ireland's broader Consumer Price Index, which informs monetary and fiscal policy decisions.
Key Facts
- The Clothing and Footwear CPI has a base year of 2015.
- This index accounts for approximately 4.5% of Ireland's overall CPI basket.
- Clothing and footwear prices typically exhibit seasonal fluctuations.
FAQs
Q: What does this economic trend measure?
A: The Clothing and Footwear CPI for Ireland tracks changes in the prices consumers pay for a basket of clothing and footwear items.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of inflationary pressures and consumer purchasing power, providing insights into household spending and overall price stability.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through regular consumer surveys and retail price observations.
Q: How is this trend used in economic policy?
A: The Clothing and Footwear CPI feeds into Ireland's broader Consumer Price Index, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Ireland (IRLCP030000IXNBM), retrieved from FRED.