Consumer Price Index for Ireland
DDOE01IEA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.79
Year-over-Year Change
11.31%
Date Range
1/1/1960 - 1/1/2017
Summary
The Consumer Price Index for Ireland measures changes in the prices of goods and services purchased by Irish consumers. It is a key indicator of inflation and an important 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 Consumer Price Index for Ireland is a comprehensive measure of the average change in prices paid by Irish households for a basket of consumer goods and services. It is used to assess the cost of living, guide monetary policy, and inform economic decision-making.
Methodology
The data is collected by Ireland's Central Statistics Office through a nationwide survey of consumer expenditures.
Historical Context
The CPI for Ireland is closely watched by the European Central Bank as it helps inform monetary policy decisions for the Eurozone.
Key Facts
- The base year for the Irish CPI is 2015.
- Ireland's CPI reached a record high of 5.5% in June 2022.
- Housing and utilities are the largest components of the Irish CPI basket.
FAQs
Q: What does the Consumer Price Index for Ireland measure?
A: The CPI for Ireland measures the average change in prices paid by Irish consumers for a basket of goods and services. It is the primary gauge of inflation in the Irish economy.
Q: Why is the Irish CPI relevant for users and analysts?
A: The CPI is a crucial indicator for assessing the cost of living, informing monetary policy decisions, and analyzing economic conditions in Ireland.
Q: How is the data for the Irish CPI collected?
A: The data is collected by Ireland's Central Statistics Office through a nationwide survey of consumer expenditures.
Q: How is the Irish CPI used in economic policy?
A: The Irish CPI is closely monitored by the European Central Bank as it helps inform monetary policy decisions for the Eurozone.
Q: Are there any limitations or delays in the Irish CPI data?
A: The Irish CPI data is published on a monthly basis with a lag of around two weeks, which may limit its real-time applicability for some users.
Related Trends
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IRLCPHP0404IXOBM
Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Ireland
IRLFCLODCXDC
Leading Indicators OECD: Component series: Car registration - sales: Original series for Ireland
IRLLOCOVRORIXOBSAM
Real Exports of Services for Ireland
NXSRXDCIRA
Value of Exports to Ireland from Puerto Rico
PRIRLA052SCEN
Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Ireland
IRLCP010000GPM
Citation
U.S. Federal Reserve, Consumer Price Index for Ireland (DDOE01IEA086NWDB), retrieved from FRED.