Consumer Price Index: Harmonized Prices: All Items: Total for Ireland
CPHPTT01IEM657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.90
Year-over-Year Change
-550.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: All Items: Total for Ireland measures the overall price level of consumer goods and services in Ireland, a key indicator of inflation and cost of living.
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 index tracks the changes in the prices paid by Irish consumers for a basket of household goods and services, including food, housing, transportation, and recreation. It is a widely-used metric for assessing the economic health and purchasing power of Irish households.
Methodology
The data is collected through surveys of Irish consumers and businesses.
Historical Context
The Irish CPI is closely monitored by the European Central Bank and Irish policymakers to inform monetary and fiscal policies.
Key Facts
- Ireland's CPI reached a high of 9.1% in 2022.
- Housing and utilities make up the largest component of the Irish CPI basket.
- The Irish CPI is harmonized with other Eurozone countries for cross-national comparisons.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonized Prices: All Items: Total for Ireland measures the overall price level of consumer goods and services purchased by Irish households.
Q: Why is this trend relevant for users or analysts?
A: The Irish CPI is a key indicator of inflation and the cost of living, crucial for assessing the purchasing power of Irish consumers and informing economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected through consumer and business surveys by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: The Irish CPI is closely monitored by the European Central Bank and Irish policymakers to guide monetary and fiscal policies aimed at price stability and supporting household purchasing power.
Q: Are there update delays or limitations?
A: The Irish CPI data is typically published monthly with a short lag, providing timely insights into inflationary pressures.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: All Items: Total for Ireland (CPHPTT01IEM657N), retrieved from FRED.