Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Ireland
IRLCPHP0200IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129.40
Year-over-Year Change
4.69%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Ireland measures price changes in these consumer goods and services in Ireland.
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
This index tracks the average change in prices paid by Irish consumers for a basket of alcoholic beverages, tobacco, and narcotics products. It is a key indicator for monitoring consumer inflation and assessing the purchasing power of Irish households.
Methodology
The data is collected through a survey of retail establishments and households in Ireland.
Historical Context
Policymakers and economists use this index to inform decisions on monetary and fiscal policies.
Key Facts
- The index uses 2015 as the base year.
- Ireland is a member of the Eurozone.
- Alcoholic beverages and tobacco make up a significant portion of Irish household budgets.
FAQs
Q: What does this economic trend measure?
A: This index measures the average change in prices paid by Irish consumers for a basket of alcoholic beverages, tobacco, and narcotics products.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator for monitoring consumer inflation and assessing the purchasing power of Irish households.
Q: How is this data collected or calculated?
A: The data is collected through a survey of retail establishments and households in Ireland.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Ireland (IRLCPHP0200IXEBM), retrieved from FRED.