Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland
IRLCPHP0300IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.00
Year-over-Year Change
2.02%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland measures changes in the prices of clothing and footwear goods and services in Ireland. This metric is important for analyzing consumer spending patterns and inflationary pressures.
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 prices of a basket of clothing and footwear items typically purchased by consumers in Ireland. It is part of the broader Harmonized Index of Consumer Prices (HICP), which is used for international inflation comparisons across the Eurozone.
Methodology
The data is collected through regular price surveys of a representative sample of retail outlets.
Historical Context
This index provides key insights into consumer demand and price dynamics that inform economic policymaking.
Key Facts
- Clothing and footwear account for approximately 5% of the total Irish consumer price index.
- Prices in this category have risen by an average of 2.3% annually over the past decade.
- The index is seasonally adjusted to account for fluctuations in consumer purchasing patterns.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of clothing and footwear goods and services purchased by consumers in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and inflationary pressures, which are key inputs for economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of retail outlets in Ireland.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to monitor consumer demand and price dynamics, which informs decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical one-month lag, and the data is subject to periodic revisions.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland (IRLCPHP0300IXEBM), retrieved from FRED.