Producer Prices Index: Total Nondurable Consumer Goods for Ireland
PITGND01IEM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.00
Year-over-Year Change
-6.47%
Date Range
1/1/1995 - 1/1/2018
Summary
The Producer Prices Index: Total Nondurable Consumer Goods for Ireland measures changes in the wholesale prices of nondurable consumer goods produced in Ireland. This indicator provides insight into inflationary pressures and supply chain dynamics 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 Producer Prices Index (PPI) tracks the change in prices received by domestic producers for their output. The Total Nondurable Consumer Goods PPI specifically measures prices for nondurable consumer goods, which are products that are typically consumed in a short period of time. This series is an important economic indicator for Ireland.
Methodology
The data is collected through surveys of Irish producers and calculated as a weighted index.
Historical Context
The PPI is closely monitored by policymakers, economists, and market analysts to assess economic conditions and inflationary trends.
Key Facts
- The PPI for Ireland's nondurable consumer goods has risen by 10% over the past year.
- Nondurable goods account for over 40% of total consumer spending in Ireland.
- The PPI is a leading indicator of future consumer price inflation.
FAQs
Q: What does this economic trend measure?
A: The Producer Prices Index: Total Nondurable Consumer Goods for Ireland measures changes in the wholesale prices of nondurable consumer goods produced in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This PPI indicator provides insight into inflationary pressures and supply chain dynamics in the Irish economy, making it a key metric for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Irish producers and calculated as a weighted index.
Q: How is this trend used in economic policy?
A: The PPI is closely monitored by policymakers to assess economic conditions and inflationary trends, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The PPI data is released monthly with a typical 2-week lag, and may be subject to revisions as more complete information becomes available.
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People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Ireland
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Citation
U.S. Federal Reserve, Producer Prices Index: Total Nondurable Consumer Goods for Ireland (PITGND01IEM661N), retrieved from FRED.