Consumer Price Index: OECD Groups: Housing: Total for Ireland
IRLCPGRHO01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.67
Year-over-Year Change
-58.80%
Date Range
2/1/1960 - 11/1/2023
Summary
The Consumer Price Index: OECD Groups: Housing: Total for Ireland measures changes in the cost of housing-related goods and services for consumers in Ireland. This metric is crucial for understanding overall inflation and cost-of-living trends in the Irish economy.
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 Housing component of the Consumer Price Index (CPI) for Ireland tracks the prices of a wide range of housing-related items, including rent, utilities, home maintenance, and household furnishings. This data is used by policymakers, economists, and the public to assess the affordability of housing and monitor inflationary pressures.
Methodology
The Irish Central Statistics Office collects price data from a representative sample of businesses and households to calculate this CPI series.
Historical Context
Housing costs are a key factor in Ireland's overall cost of living and can significantly impact consumer spending, household budgets, and economic stability.
Key Facts
- Ireland's housing CPI has risen by 10% over the past 5 years.
- Housing accounts for over 25% of the total Irish CPI basket.
- Rapid housing cost growth has been a major driver of overall inflation in Ireland.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: OECD Groups: Housing: Total for Ireland measures changes in the cost of housing-related goods and services for consumers in Ireland.
Q: Why is this trend relevant for users or analysts?
A: Housing costs are a key driver of overall inflation and the cost of living in Ireland, making this metric crucial for policymakers, economists, and the public to monitor.
Q: How is this data collected or calculated?
A: The Irish Central Statistics Office collects price data from a representative sample of businesses and households to calculate this CPI series.
Q: How is this trend used in economic policy?
A: Policymakers use this housing CPI data to assess affordability, understand inflationary pressures, and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The Irish housing CPI data is published monthly with minimal delays, providing timely insights into this important economic indicator.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Housing: Total for Ireland (IRLCPGRHO01GPM), retrieved from FRED.