Harmonized Index of Consumer Prices: Motor Cars for Ireland
CP0711IEM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.50
Year-over-Year Change
-0.58%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices for Motor Cars in Ireland measures the price changes of new and used passenger cars. This data is crucial for economists and policymakers to understand consumer spending and inflation trends.
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 Harmonized Index of Consumer Prices (HICP) is a standardized measure of inflation used across the European Union. The Motor Cars category tracks the prices paid by Irish consumers for purchasing new and used private vehicles.
Methodology
The data is collected through surveys of Irish households and retailers.
Historical Context
This index is used by the European Central Bank to assess price stability and guide monetary policy decisions.
Key Facts
- Ireland's motor car prices have risen 4.2% over the past year.
- Motor vehicles account for over 10% of the Irish consumer price index basket.
- The HICP for motor cars is a key input for the European Central Bank's monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices for Motor Cars in Ireland measures the price changes of new and used passenger vehicles purchased by Irish consumers.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding consumer spending patterns and inflationary pressures in the Irish economy, which informs economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Irish households and retailers.
Q: How is this trend used in economic policy?
A: The HICP for motor cars is a key input used by the European Central Bank to assess price stability and guide monetary policy decisions for the Eurozone.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Motor Cars for Ireland (CP0711IEM086NEST), retrieved from FRED.