Consumer Price Index: Communication (COICOP 08): Total for Ireland
IRLCP080000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.30
Year-over-Year Change
1.54%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index for Communication (COICOP 08) measures changes in the prices of communication goods and services in Ireland. This key economic indicator helps policymakers and analysts 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 Communication CPI tracks a basket of communication-related products and services, including telephone and internet access, postal services, and equipment. It is a vital component of the overall Irish CPI and provides insights into the affordability of communication technology for households.
Methodology
The data is collected through a nationwide survey of prices by the Irish Central Statistics Office.
Historical Context
Policymakers and central banks monitor communication price trends to understand the broader inflationary environment and guide monetary and fiscal policies.
Key Facts
- Communication accounts for approximately 3.5% of the Irish consumer price index basket.
- Prices for communication goods and services have risen by an average of 2.1% annually over the past decade.
- Ireland's communication CPI has been a leading indicator of overall inflationary pressures in recent years.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures changes in the prices of communication goods and services in Ireland, including telephone, internet, and postal services.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI is a vital component of the overall Irish CPI, providing insights into the affordability of communication technology for households and signaling broader inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of prices by the Irish Central Statistics Office.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor communication price trends to understand the broader inflationary environment and guide monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The Communication CPI is published monthly by the Irish Central Statistics Office with a typical delay of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Ireland (IRLCP080000IXNBM), retrieved from FRED.