Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Ireland
IRLCPIENGAINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
154.18
Year-over-Year Change
39.31%
Date Range
1/1/1976 - 1/1/2024
Summary
The Consumer Price Index (CPI) for Energy in Ireland measures the change in prices paid by consumers for energy-related goods and services. This metric is crucial for policymakers and economists to assess inflationary pressures and the cost of living in the country.
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 Energy in Ireland is a component of the broader Consumer Price Index, which tracks the average change in prices paid by consumers for a basket of goods and services. The Energy CPI specifically focuses on energy-related items such as electricity, natural gas, and motor fuels, providing insights into energy-driven inflation.
Methodology
The data is collected through surveys of consumers and businesses by the Central Statistics Office of Ireland.
Historical Context
The Energy CPI is closely monitored by the Irish central bank and government to inform monetary and fiscal policies.
Key Facts
- The base year for the Ireland Energy CPI is 2015.
- Energy accounts for around 10% of the total Irish Consumer Price Index basket.
- The Energy CPI reached a record high in 2022 amid global energy price increases.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Energy in Ireland measures the change in prices paid by consumers for energy-related goods and services, such as electricity, natural gas, and motor fuels.
Q: Why is this trend relevant for users or analysts?
A: The Energy CPI is a crucial indicator for policymakers and economists to assess inflationary pressures and the cost of living in Ireland, as energy is a significant component of household expenditures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and businesses by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: The Energy CPI is closely monitored by the Irish central bank and government to inform monetary and fiscal policies aimed at managing inflation and the cost of living.
Q: Are there update delays or limitations?
A: The Energy CPI data is typically published on a monthly basis with a short delay, providing timely information on energy price trends in Ireland.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Ireland (IRLCPIENGAINMEI), retrieved from FRED.