Consumer Price Index: Food for Ireland
Annual
IRLCPIFODAINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.02
Year-over-Year Change
-2.78%
Date Range
1/1/1976 - 1/1/2017
Summary
The Annual trend measures the annual inflation rate in advanced economies, providing a broad indicator of global price 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
The Annual trend, tracked by the International Monetary Fund, represents the year-over-year change in the consumer price index (CPI) across major advanced economies. It serves as a key metric for monitoring global inflationary trends and informing economic policymaking.
Methodology
The data is calculated based on national CPI reports aggregated by the IMF.
Historical Context
Policymakers and analysts closely follow this indicator to assess the state of the global economy and the effectiveness of monetary policies.
Key Facts
- The Annual trend reached a 40-year high of 9.1% in 2022.
- Elevated inflation has prompted central banks worldwide to raise interest rates.
- Persistent supply chain issues and the Russia-Ukraine war have contributed to higher global prices.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year change in the consumer price index (CPI) across major advanced economies, providing a broad indicator of global inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key metric for monitoring the state of the global economy and informing economic policymaking, as high inflation can erode consumer purchasing power and prompt central banks to raise interest rates.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on national CPI reports from advanced economies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely follow the Annual trend to assess the effectiveness of monetary policies and make informed decisions about interest rates and other economic interventions.
Q: Are there update delays or limitations?
A: The Annual trend data is published on a regular basis, but there may be some delays in reporting due to the time required to aggregate national CPI data across multiple countries.
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Citation
U.S. Federal Reserve, Annual (IRLCPIFODAINMEI), retrieved from FRED.