Consumer Price Index: Recreation and Culture (COICOP 09): Total for Ireland
IRLCP090000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.00
Year-over-Year Change
7.72%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Recreation and Culture (COICOP 09) measures changes in the prices of goods and services related to recreation, cultural activities, and hobbies in Ireland. This index is a key indicator of consumer spending and inflationary pressures in the Irish economy.
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 Recreation and Culture CPI tracks the prices of a wide range of recreational and cultural goods and services, including electronics, sports equipment, toys, books, newspapers, and cultural events. It is used by policymakers, economists, and analysts to assess trends in consumer behavior and the overall cost of living in Ireland.
Methodology
The data is collected through regular surveys of businesses and households by the Central Statistics Office of Ireland.
Historical Context
The Recreation and Culture CPI is closely monitored by the Irish government and the European Central Bank as part of their efforts to manage inflation and support economic stability.
Key Facts
- The Recreation and Culture CPI accounts for around 10% of the overall Irish Consumer Price Index.
- Prices in the Recreation and Culture category have increased by an average of 2.5% per year over the past decade in Ireland.
- Trends in the Recreation and Culture CPI can provide insights into consumer preferences and the health of the Irish leisure and entertainment industries.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Recreation and Culture (COICOP 09) measures changes in the prices of a wide range of recreational, cultural, and entertainment goods and services in Ireland.
Q: Why is this trend relevant for users or analysts?
A: The Recreation and Culture CPI is an important indicator of consumer spending and inflationary pressures in the Irish economy, providing insights into household behavior and the overall cost of living.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of businesses and households by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: The Recreation and Culture CPI is closely monitored by the Irish government and the European Central Bank as part of their efforts to manage inflation and support economic stability.
Q: Are there update delays or limitations?
A: The Recreation and Culture CPI data is published monthly by the Central Statistics Office of Ireland, with minimal update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Recreation and Culture (COICOP 09): Total for Ireland (IRLCP090000IXNBM), retrieved from FRED.