Consumer Price Index: All Items: Total for Ireland
CPALTT01IEM657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.50
Year-over-Year Change
-51.65%
Date Range
2/1/1955 - 3/1/2024
Summary
The Consumer Price Index (CPI) measures changes in the prices paid by consumers for a basket of goods and services in Ireland. It is a key indicator of inflation and a crucial metric for policymakers and economists.
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 for All Items: Total in Ireland tracks the average change in prices for a comprehensive set of consumer goods and services, including food, housing, transportation, and more. It is used to assess the purchasing power of the Irish currency and inform economic decision-making.
Methodology
The Irish Central Statistics Office collects price data from a sample of retail and service outlets to calculate the CPI.
Historical Context
The CPI is a vital data point for the European Central Bank's monetary policy and is closely monitored by Irish and international analysts.
Key Facts
- The base year for the Irish CPI is 2015 = 100.
- The CPI is published monthly by the Irish Central Statistics Office.
- The CPI is a major factor in the European Central Bank's interest rate decisions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for All Items: Total in Ireland measures the average change in prices for a comprehensive basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Irish CPI is a crucial indicator of inflation that informs monetary policy, economic forecasting, and consumer purchasing power.
Q: How is this data collected or calculated?
A: The Irish Central Statistics Office collects price data from a sample of retail and service outlets to calculate the CPI.
Q: How is this trend used in economic policy?
A: The CPI is a vital data point for the European Central Bank's monetary policy decisions and is closely monitored by Irish and international analysts.
Q: Are there update delays or limitations?
A: The CPI is published monthly with no significant update delays, providing timely data on Irish consumer price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: All Items: Total for Ireland (CPALTT01IEM657N), retrieved from FRED.