Consumer Price Index: Health (COICOP 06): Total for Ireland
IRLCP060000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.20
Year-over-Year Change
2.84%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Health (COICOP 06): Total for Ireland measures the change in prices of healthcare goods and services in Ireland over time. It is a key economic indicator used to track inflation and inform policymaking.
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 Consumer Price Index: Health (COICOP 06): Total for Ireland is a subcomponent of the overall Consumer Price Index that tracks the prices of a basket of healthcare-related products and services. It is used by economists and policymakers to gauge changes in the cost of living and assess the broader inflationary environment.
Methodology
The data is collected through a survey of prices for a representative sample of healthcare goods and services across Ireland.
Historical Context
This index provides important context for Ireland's monetary and fiscal policy decisions.
Key Facts
- The index is published monthly by the Central Statistics Office of Ireland.
- Healthcare accounts for over 5% of the total consumer expenditure basket in Ireland.
- Prices for healthcare services tend to rise faster than overall consumer prices.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Health (COICOP 06): Total for Ireland measures the change in prices of a basket of healthcare goods and services in Ireland over time.
Q: Why is this trend relevant for users or analysts?
A: This index is a key economic indicator used to track healthcare-related inflation and inform policy decisions in Ireland.
Q: How is this data collected or calculated?
A: The data is collected through a survey of prices for a representative sample of healthcare goods and services across Ireland.
Q: How is this trend used in economic policy?
A: The Consumer Price Index: Health provides important context for Ireland's monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly by the Central Statistics Office of Ireland with no significant update delays.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Miscellaneous Goods and Services for Ireland
IRLCP120000GYQ
Geographical Outreach: Number of Automated Teller Machines (ATMs), Country Wide for Ireland
IRLFCACNUM
Amount Outstanding of International Debt Securities for All Issuers, All Maturities, Residence of Issuer in Ireland
IDSAMRIAOIE
Producer Prices Index: Economic activities: Energy: Domestic for Ireland
IRLPIEAEN02GPM
Real Final Consumption Expenditure for Ireland
NCRXDCIRA
Producer Prices Index: Economic Activities: Manufacturing: Total for Ireland
IRLPIEAMP01GPM
Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Ireland (IRLCP060000IXNBM), retrieved from FRED.