Price Level of Household Consumption for Ireland
PLCCPPIEA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.09
Year-over-Year Change
-7.09%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Ireland measures changes in the overall price level of consumer goods and services purchased by Irish households. This metric is a key indicator of inflation and consumer purchasing power.
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 Price Level of Household Consumption for Ireland is a price index that tracks the average change in prices paid by Irish consumers for a basket of common household goods and services. It is used to assess the real purchasing power of Irish consumers and the overall cost of living.
Methodology
The data is collected by Ireland's Central Statistics Office through surveys of household expenditures.
Historical Context
Policymakers and analysts monitor this trend to understand inflationary pressures and inform decisions on monetary and fiscal policies.
Key Facts
- The base year for the index is 2015.
- Ireland's household consumption price index reached a high of 105.7 in 2022.
- Consumer prices in Ireland have risen by over 8% annually in recent quarters.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Ireland measures changes in the overall prices paid by Irish consumers for a basket of common household goods and services.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflation and consumer purchasing power in Ireland, providing important insights for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through surveys of household expenditures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand inflationary pressures and inform decisions on monetary and fiscal policies in Ireland.
Q: Are there update delays or limitations?
A: The Price Level of Household Consumption for Ireland is updated quarterly with a typical 2-3 month publication delay.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Ireland (PLCCPPIEA670NRUG), retrieved from FRED.