Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland
IRLCP040000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.99
Year-over-Year Change
-407.69%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04) for Ireland measures the changes in prices for housing, utilities, and related expenses. This key indicator provides insight into the cost of living and inflation trends within Ireland's 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 COICOP 04 index tracks the prices of a basket of goods and services related to housing, including rents, utilities, fuels, and other household operational costs. It is a critical component of the overall Consumer Price Index and helps economists and policymakers understand inflationary pressures and the standard of living for Irish consumers.
Methodology
The data is collected through a nationwide survey of consumer prices by Ireland's Central Statistics Office.
Historical Context
This index is closely monitored by the Irish government and the European Central Bank to inform economic and monetary policies.
Key Facts
- The COICOP 04 index has a weight of 24.7% in Ireland's overall CPI basket.
- Housing costs make up the largest share of Irish household expenditures.
- Utility prices are a key driver of changes in the COICOP 04 index.
FAQs
Q: What does this economic trend measure?
A: The COICOP 04 index measures changes in the prices of housing, water, electricity, gas, and other household fuels and utilities in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This index provides critical insight into the cost of living and inflationary pressures faced by Irish consumers, which is crucial for economic policymaking and household budget planning.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: The COICOP 04 index is closely monitored by the Irish government and the European Central Bank to inform economic and monetary policies.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical 1-2 month delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland (IRLCP040000GPM), retrieved from FRED.