Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Ireland
IRLCP030000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.83
Year-over-Year Change
268.33%
Date Range
4/1/1983 - 7/1/2023
Summary
The Consumer Price Index for Clothing and Footwear (COICOP 03) in Ireland measures the overall price changes in this consumer goods category. This key economic indicator helps assess inflationary pressures and household spending trends.
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 COICOP 03 index tracks the prices of a representative basket of clothing and footwear items purchased by Irish consumers. It is a subcomponent of the broader Consumer Price Index, a widely used metric of nationwide inflation.
Methodology
The data is collected through regular price surveys of retail outlets across Ireland.
Historical Context
Policymakers and analysts use this index to understand consumer demand and the cost-of-living environment.
Key Facts
- Ireland's clothing/footwear prices rose 2.1% in 2022.
- COICOP 03 accounts for around 5% of the total Irish CPI basket.
- Clothing costs tend to be more volatile than overall inflation.
FAQs
Q: What does this economic trend measure?
A: The COICOP 03 index measures the prices of clothing and footwear purchased by Irish consumers.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into inflationary pressures and consumer spending patterns within a key household expense category.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of retail outlets across Ireland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand consumer demand and the cost-of-living environment.
Q: Are there update delays or limitations?
A: The index is updated monthly, but there may be lags in data reporting.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Ireland (IRLCP030000GPQ), retrieved from FRED.