Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Goods for Ireland
IRLCPGRGO01IXOBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.86
Year-over-Year Change
7.91%
Date Range
1/1/1997 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Goods in Ireland measures changes in the prices of consumer goods and services purchased by Irish households. This important economic indicator provides 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 in Ireland is a subcomponent of the broader Irish Consumer Price Index, which tracks changes in the cost of a representative basket of consumer goods and services. This index is a key measure of inflation and an important data point for policymakers, economists, and market analysts.
Methodology
The Irish Central Statistics Office collects price data from a sample of retail outlets to calculate the CPI for Goods on a monthly basis.
Historical Context
The CPI for Goods is used by the European Central Bank and Irish government to monitor and manage inflationary trends.
Key Facts
- The CPI for Goods in Ireland has a base year of 2015.
- This index covers a broad range of consumer goods, excluding services.
- Ireland's CPI for Goods has shown moderate inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Goods in Ireland measures changes in the prices of consumer goods purchased by Irish households. It is a key indicator of inflationary pressures in the Irish economy.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Goods is an important metric for understanding consumer purchasing power, informing monetary policy decisions, and analyzing broader economic conditions in Ireland.
Q: How is this data collected or calculated?
A: The Irish Central Statistics Office collects price data from a sample of retail outlets to calculate the monthly CPI for Goods.
Q: How is this trend used in economic policy?
A: The CPI for Goods is used by the European Central Bank and Irish government to monitor and manage inflationary trends, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The CPI for Goods data is published monthly by the Irish Central Statistics Office with a typical lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Goods for Ireland (IRLCPGRGO01IXOBQ), retrieved from FRED.