Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Ireland
IRLCPHP1100IXOBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.40
Year-over-Year Change
3.18%
Date Range
1/1/1996 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in Ireland measures price changes in the consumer services sector, providing insights into inflation pressures and consumer spending habits.
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 Restaurants and Hotels CPI is a component of the Harmonized Index of Consumer Prices (HICP), a key economic indicator used to assess price stability and guide monetary policy decisions in the Eurozone.
Methodology
The data is collected through regular surveys of prices for a basket of goods and services representative of consumer expenditures.
Historical Context
This index is monitored by policymakers, economists, and investors to gauge consumer demand and the overall state of the Irish economy.
Key Facts
- The Restaurants and Hotels CPI is a component of the overall HICP for Ireland.
- The index tracks price changes in the consumer services sector, which accounts for a significant portion of household spending.
- Monitoring the Restaurants and Hotels CPI helps policymakers assess inflationary pressures and consumer behavior.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels CPI measures changes in the prices of consumer services related to dining out and accommodation in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into inflation pressures and consumer spending patterns in the service sector, which is an important driver of the Irish economy.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative basket of goods and services.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors monitor the Restaurants and Hotels CPI to assess consumer demand and guide decisions on monetary policy and economic interventions.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI is published monthly with a short lag, providing timely data on price changes in the consumer services sector.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Ireland (IRLCPHP1100IXOBM), retrieved from FRED.