Consumer Price Index: Services Less Housing for Ireland
IRLCPISXHMINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.27
Year-over-Year Change
1.13%
Date Range
11/1/1982 - 5/1/2018
Summary
The Consumer Price Index: Services Less Housing for Ireland measures price changes for services excluding housing in Ireland. It is a key indicator of inflationary pressures in the Irish economy.
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 services in Ireland, excluding housing costs, which account for a significant portion of consumer spending. It is used by economists and policymakers to assess underlying inflationary trends and make informed decisions about monetary and fiscal policies.
Methodology
The data is collected through a nationwide survey of prices and calculated using a weighted average formula.
Historical Context
The services less housing index provides important context for the broader consumer price index and can inform policy responses to changing economic conditions.
Key Facts
- The index uses 2015 as the base year.
- Services make up around 60% of the Irish consumer price index.
- Housing costs are excluded to isolate price changes in other service sectors.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Services Less Housing for Ireland measures the change in prices for services, excluding housing costs, in the Irish economy.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of underlying inflationary pressures in Ireland, as services make up a significant portion of consumer spending. It provides important context for the broader consumer price index.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of prices and calculated using a weighted average formula.
Q: How is this trend used in economic policy?
A: The services less housing index can inform monetary and fiscal policy decisions by providing insights into inflationary trends in the Irish economy, excluding the impact of housing costs.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Consumer Price Index: Services Less Housing for Ireland (IRLCPISXHMINMEI), retrieved from FRED.