Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland
IRLCPHP0400GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.20
Year-over-Year Change
1500.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland measures changes in the prices of household utilities and related services in Ireland. This key economic indicator helps policymakers and analysts understand inflationary pressures and consumer spending patterns.
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 essential household costs like rent, utilities, and domestic fuel in Ireland. It is a subcomponent of the broader Harmonized Index of Consumer Prices (HICP), providing more granular data on a specific category of consumer expenditures.
Methodology
The data is collected through surveys of retail establishments and households by Ireland's national statistical agency.
Historical Context
The COICOP 04 index is used by the European Central Bank and Irish government to monitor inflation and make policy decisions.
Key Facts
- Ireland's COICOP 04 index has a base year of 2015.
- Housing and utility costs make up about 24% of the Irish CPI basket.
- The index reached a record high in June 2022 amid rising energy prices.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of housing, water, electricity, gas, and other household fuels and services in Ireland.
Q: Why is this trend relevant for users or analysts?
A: The COICOP 04 index provides important insights into a major component of consumer spending and inflationary pressures facing Irish households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and households by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: The COICOP 04 index is used by the European Central Bank and Irish government to monitor inflation and make appropriate monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland (IRLCPHP0400GPM), retrieved from FRED.