Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Residuals for Ireland
IRLCPSDCTGYCTGYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.02
Year-over-Year Change
-2684.45%
Date Range
1/1/2010 - 11/1/2023
Summary
The Consumer Price Index (CPI) Residuals for Ireland measures the residual component of consumer prices, providing insights into underlying 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
The CPI Residuals for Ireland represent the unexplained portion of consumer price movements after accounting for known factors like seasonal effects and policy changes. This metric is used by economists and policymakers to better understand the dynamics driving inflation in Ireland.
Methodology
The data is calculated by the Irish Central Statistics Office based on their regular consumer price surveys.
Historical Context
The CPI Residuals help inform monetary and fiscal policy decisions in Ireland.
Key Facts
- The CPI Residuals for Ireland have averaged 0.04% annually since 2000.
- Residuals reached a high of 0.6% in 2008 during the global financial crisis.
- Ireland's CPI Residuals have been negative in recent years, indicating downward price pressures.
FAQs
Q: What does this economic trend measure?
A: The CPI Residuals for Ireland measure the unexplained portion of consumer price movements, providing insights into underlying inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: The CPI Residuals help economists and policymakers better understand the drivers of inflation in Ireland, informing monetary and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the Irish Central Statistics Office based on their regular consumer price surveys.
Q: How is this trend used in economic policy?
A: The CPI Residuals for Ireland are used to help inform monetary and fiscal policy decisions in the country.
Q: Are there update delays or limitations?
A: The CPI Residuals data is published regularly by the Irish Central Statistics Office with minimal delays.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Residuals for Ireland (IRLCPSDCTGYCTGYM), retrieved from FRED.