Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Ireland
IRLCP110000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.32
Year-over-Year Change
-30.98%
Date Range
11/1/1983 - 4/1/2025
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in Ireland measures the change in prices paid by consumers for dining out and lodging services. This metric is a key indicator of inflation in the service sector and consumer spending patterns.
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 CPI for Restaurants and Hotels represents the price movements of a basket of goods and services related to eating and staying in hotels, motels, and other accommodations. This index is a subcomponent of the overall Consumer Price Index and helps economists and policymakers understand trends in consumer behavior and service-sector inflation.
Methodology
The Irish Central Statistics Office collects price data through surveys of businesses and consumers to calculate this index.
Historical Context
Monitoring the CPI for Restaurants and Hotels is important for assessing the health of the Irish service economy and consumer spending patterns.
Key Facts
- The CPI for Restaurants and Hotels is a subcomponent of the overall Irish Consumer Price Index.
- This index helps track consumer spending and inflationary pressures in the service sector.
- Monitoring this metric is crucial for understanding the health of the Irish economy.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Restaurants and Hotels in Ireland measures the change in prices paid by consumers for dining out and lodging services.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of inflation in the service sector and consumer spending patterns, which is important for assessing the health of the Irish economy.
Q: How is this data collected or calculated?
A: The Irish Central Statistics Office collects price data through surveys of businesses and consumers to calculate this index.
Q: How is this trend used in economic policy?
A: Monitoring the CPI for Restaurants and Hotels is important for economists and policymakers to understand trends in consumer behavior and service-sector inflation.
Q: Are there update delays or limitations?
A: The data is published regularly by the Irish Central Statistics Office, with potential lags and limitations common to consumer price index reporting.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Ireland (IRLCP110000GYM), retrieved from FRED.