Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland
IRLCPHP0300GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.60
Year-over-Year Change
-66.67%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices: Clothing and Footwear (COICOP 03) in Ireland measures the changes in consumer prices for this product category over time. This metric is important for analyzing trends in consumer spending and inflation.
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 Harmonized Prices: Clothing and Footwear (COICOP 03) in Ireland is a key economic indicator that tracks the costs of consumer goods and services in this product group. It is used by policymakers, economists, and analysts to understand changes in the cost of living and consumer behavior.
Methodology
The data is collected through surveys of retailers and consumers by the Central Statistics Office of Ireland.
Historical Context
This CPI trend is used to inform monetary and fiscal policy decisions, as well as analysis of consumer markets.
Key Facts
- The base year for this CPI series is 2015.
- Clothing and footwear account for approximately 5% of the Irish consumer price index basket.
- CPI data is released monthly by the Central Statistics Office of Ireland.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in consumer prices for clothing and footwear products in Ireland over time, as part of the broader Consumer Price Index (CPI).
Q: Why is this trend relevant for users or analysts?
A: This CPI trend is important for understanding inflation, consumer spending patterns, and the overall cost of living in Ireland.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and consumers by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: This CPI trend is used by policymakers, central banks, and analysts to inform monetary and fiscal policy decisions, as well as analysis of consumer markets.
Q: Are there update delays or limitations?
A: The CPI data is released monthly by the Central Statistics Office of Ireland, with minimal publication delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland (IRLCPHP0300GPM), retrieved from FRED.