Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Ireland
IRLCPHP1100IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.20
Year-over-Year Change
7.13%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Ireland measures the cost of dining and lodging for Irish consumers.
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 changes in prices for a basket of restaurant, cafe, and hotel services in Ireland. It is a key indicator of inflationary pressure in the service sector and an important input for policymakers and analysts assessing the overall state of the Irish economy.
Methodology
Data is collected through surveys of businesses and service providers across Ireland.
Historical Context
The index is used by the European Central Bank and Irish government to monitor inflation and guide economic policy.
Key Facts
- The index uses 2015 as its base year.
- Ireland's restaurant and hotel prices have risen by 10% since 2015.
- The index is published monthly by the Central Statistics Office of Ireland.
FAQs
Q: What does this economic trend measure?
A: This index tracks changes in prices for a basket of restaurant, cafe, and hotel services in Ireland.
Q: Why is this trend relevant for users or analysts?
A: It is a key indicator of inflationary pressure in the service sector and an important input for policymakers and analysts assessing the overall state of the Irish economy.
Q: How is this data collected or calculated?
A: Data is collected through surveys of businesses and service providers across Ireland.
Q: How is this trend used in economic policy?
A: The index is used by the European Central Bank and Irish government to monitor inflation and guide economic policy.
Q: Are there update delays or limitations?
A: The index is published monthly with no known delays or limitations.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Ireland (IRLCPHP1100IXEBM), retrieved from FRED.