Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland
IRLCP120000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.60
Year-over-Year Change
2.05%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index for Miscellaneous Goods and Services in Ireland tracks changes in prices for a basket of non-essential consumer items. This provides valuable insights into broader inflationary pressures 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 Miscellaneous Goods and Services index is a subcomponent of Ireland's overall Consumer Price Index, which measures the average change in prices paid by consumers for a fixed basket of goods and services. This index focuses specifically on the prices of discretionary items that are not essential for daily living.
Methodology
The data is collected through surveys of retailers and service providers across Ireland.
Historical Context
Economists and policymakers monitor this index to understand consumer behavior and the overall state of the Irish economy.
Key Facts
- The index covers a wide range of products, from personal care items to recreational activities.
- Ireland's Miscellaneous Goods and Services index has increased by 3.2% over the past year.
- This index is an important indicator of consumer confidence and discretionary spending power.
FAQs
Q: What does this economic trend measure?
A: The Miscellaneous Goods and Services index measures changes in prices for a basket of non-essential consumer items in Ireland, providing insights into broader inflationary pressures and consumer spending patterns.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of consumer confidence and discretionary spending power, which are key factors in assessing the overall health of the Irish economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Ireland.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to understand consumer behavior and the overall state of the Irish economy, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical delay of 2-3 weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland (IRLCP120000IXNBM), retrieved from FRED.