Consumer Price Index: OECD Groups: Goods: Total for Ireland
IRLCPGRGO01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
-326.06%
Date Range
4/1/1997 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Goods: Total in Ireland measures changes in the prices paid by consumers for a basket of goods and services, providing insights into inflationary pressures and consumer purchasing power.
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 Goods: Total in Ireland is a key economic indicator that tracks the overall price level of consumer goods, excluding services. It is used by policymakers, economists, and analysts to assess the cost of living, inform monetary policy decisions, and evaluate the health of the Irish economy.
Methodology
The data is collected by Ireland's Central Statistics Office through a nationwide survey of consumer prices.
Historical Context
The CPI for Goods: Total is a crucial input for Ireland's central bank and government in formulating economic and fiscal policies.
Key Facts
- The base year for the Irish CPI for Goods: Total is 2015.
- The index reached a record high of 105.3 in May 2022.
- Energy and food prices are key drivers of the CPI for Goods in Ireland.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Goods: Total in Ireland measures the average change in prices paid by consumers for a basket of consumer goods, excluding services.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Goods: Total is a crucial indicator of inflationary pressures and consumer purchasing power, and is used by policymakers, economists, and analysts to assess the state of the Irish economy.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The CPI for Goods: Total is a key input for Ireland's central bank and government in formulating monetary and fiscal policies to manage inflation and support economic growth.
Q: Are there update delays or limitations?
A: The CPI for Goods: Total data is published monthly by the Central Statistics Office, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Goods: Total for Ireland (IRLCPGRGO01GPQ), retrieved from FRED.