Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland
CPGRLE01IEQ657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.16
Year-over-Year Change
-347.70%
Date Range
1/1/1976 - 7/1/2023
Summary
The Consumer Price Index (CPI) for All Items Non-Food Non-Energy in Ireland measures changes in the prices of goods and services excluding food and energy, providing insight into broader inflationary pressures 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 CPI All Items Non-Food Non-Energy for Ireland is a key economic indicator that excludes the volatile food and energy components, offering a more stable measure of underlying inflation. This metric is closely watched by policymakers, economists, and investors to assess the overall price environment.
Methodology
The data is collected through a nationwide survey of consumer purchases and calculated by the OECD.
Historical Context
The CPI Non-Food Non-Energy trend is used to inform monetary policy decisions and evaluate the effectiveness of economic interventions.
Key Facts
- The base year for the CPI Non-Food Non-Energy index is 2015 = 100.
- This metric excludes approximately 30% of the overall consumer expenditure basket.
- Ireland's CPI Non-Food Non-Energy has averaged 101.7 over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The CPI All Items Non-Food Non-Energy for Ireland measures changes in the prices of goods and services, excluding the volatile food and energy components, to provide a more stable gauge of underlying inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and investors as it offers a clearer signal of the underlying inflation rate, helping to inform monetary policy decisions and assess the effectiveness of economic interventions.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer purchases and calculated by the OECD.
Q: How is this trend used in economic policy?
A: The CPI Non-Food Non-Energy trend is used by central banks and governments to monitor and respond to inflationary pressures, informing monetary policy decisions and the evaluation of the impact of economic interventions.
Q: Are there update delays or limitations?
A: The CPI Non-Food Non-Energy data for Ireland is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland (CPGRLE01IEQ657N), retrieved from FRED.