Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland
CPGRLE01IEM657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.35
Year-over-Year Change
-206.05%
Date Range
11/1/1975 - 11/1/2023
Summary
The Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland measures changes in the prices of goods and services in Ireland, excluding food and energy. This metric is important for economists and policymakers to gauge underlying inflationary pressures.
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
This economic indicator tracks the price level of a basket of consumer goods and services in Ireland, excluding volatile food and energy items. It provides a more stable and reliable measure of core inflation trends in the Irish economy.
Methodology
The data is collected through surveys of consumer expenditures and calculated using a modified Laspeyres formula.
Historical Context
This index is widely used by the Central Bank of Ireland and other institutions to inform monetary policy decisions.
Key Facts
- The base year for this index is 2015.
- It excludes volatile food and energy prices.
- The index is published on a monthly basis.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of a basket of consumer goods and services in Ireland, excluding food and energy items.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more stable and reliable indicator of underlying inflationary pressures in the Irish economy, which is crucial for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and calculated using a modified Laspeyres formula.
Q: How is this trend used in economic policy?
A: The Central Bank of Ireland and other institutions use this index to inform monetary policy decisions and assess the state of the Irish economy.
Q: Are there update delays or limitations?
A: The index is published on a monthly basis with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland (CPGRLE01IEM657N), retrieved from FRED.