Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Ireland
IRLCP110000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.69
Year-over-Year Change
N/A%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Ireland measures changes in the prices paid by Irish consumers for goods and services in the restaurant, cafe, and hotel sectors.
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
This index is a key indicator of inflationary pressures and consumer demand in Ireland's hospitality industry. It provides valuable insights for policymakers, businesses, and analysts monitoring the health of the Irish economy.
Methodology
The data is collected through regular surveys of consumer prices across a representative sample of businesses.
Historical Context
The CPI Restaurants and Hotels index is widely used to inform monetary and fiscal policy decisions in Ireland.
Key Facts
- The index has a base year of 2015 = 100.
- Ireland's CPI Restaurants and Hotels index reached a record high in 2022.
- The index is released monthly by the Irish Central Statistics Office.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Ireland measures changes in the prices paid by Irish consumers for goods and services in the restaurant, cafe, and hotel sectors.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer demand in Ireland's hospitality industry, providing valuable insights for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of consumer prices across a representative sample of businesses.
Q: How is this trend used in economic policy?
A: The CPI Restaurants and Hotels index is widely used to inform monetary and fiscal policy decisions in Ireland.
Q: Are there update delays or limitations?
A: The index is released monthly by the Irish Central Statistics Office with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Ireland (IRLCP110000GPM), retrieved from FRED.