Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Ireland
IRLCP040500GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.19
Year-over-Year Change
32.56%
Date Range
4/1/2003 - 7/1/2023
Summary
The Consumer Price Index for Housing, Water, Electricity, Gas and Other Fuels in Ireland measures the changes in the prices of these essential household items. This metric is a key indicator of inflation and consumer purchasing power.
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 economic indicator tracks the price trends for electricity, gas, and other fuel sources that Irish households rely on. It is an important component of the overall consumer price index and helps policymakers and analysts assess the broader cost-of-living environment.
Methodology
The data is collected through a nationwide survey of household expenditures by Ireland's Central Statistics Office.
Historical Context
This index is used by the European Central Bank and Irish government to guide monetary and fiscal policies.
Key Facts
- Ireland's electricity, gas, and fuel prices rose 23.4% from 2021 to 2022.
- Electricity and gas account for over 4% of Irish household budgets.
- This index is a key input for Ireland's overall consumer price inflation measure.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the prices of electricity, gas, and other household fuels and energy sources in Ireland.
Q: Why is this trend relevant for users or analysts?
A: It provides important insights into the cost-of-living pressures facing Irish consumers and is used to guide economic policies.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of household expenditures by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: The European Central Bank and Irish government utilize this index to inform monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The index is published monthly with a brief lag, providing timely insights into changing household energy costs.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Ireland (IRLCP040500GPQ), retrieved from FRED.