Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Ireland
IRLCPHP0200IXOBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.90
Year-over-Year Change
4.30%
Date Range
1/1/1996 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Ireland tracks changes in the prices paid by consumers for these products over time. This metric is a key indicator of inflationary trends 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 Alcoholic Beverages, Tobacco and Narcotics is part of the broader Consumer Price Index, which measures the average change in prices paid by consumers for a basket of goods and services. This subindex specifically focuses on the prices of alcohol, tobacco, and narcotics, providing insights into consumer spending patterns and cost-of-living changes in this product category.
Methodology
The data is collected through surveys of retail establishments and calculated using a weighted average of price changes.
Historical Context
Policymakers and analysts monitor this CPI subindex to gauge inflationary pressures and consumer behavior within the alcohol, tobacco, and narcotics markets.
Key Facts
- The CPI for Alcoholic Beverages, Tobacco and Narcotics in Ireland has a base year of 1999.
- This index is part of the broader COICOP (Classification of Individual Consumption by Purpose) framework.
- Monitoring this CPI subindex helps policymakers assess the impact of excise taxes and other policies on consumer spending.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Ireland tracks changes in the prices paid by consumers for these products over time.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of inflationary trends and consumer purchasing power within the alcohol, tobacco, and narcotics markets, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this CPI subindex to gauge inflationary pressures and consumer behavior within these markets, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and limitations of the broader Consumer Price Index.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Ireland (IRLCPHP0200IXOBM), retrieved from FRED.