Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland
IRLCP050000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.76
Year-over-Year Change
N/A%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance in Ireland measures changes in the price level of goods and services related to maintaining a household.
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 costs of furnishings, appliances, tools, and other household items used for daily domestic operations. It is an important metric for understanding consumer spending patterns and inflationary pressures in the Irish economy.
Methodology
The data is collected through regular surveys of household purchases and market prices.
Historical Context
Policymakers and economists analyze this index to gauge overall consumer demand and the cost of living.
Key Facts
- The index has a base year of 2015.
- Furnishings and appliances make up the largest component of the index.
- Ireland's household maintenance CPI has risen 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance tracks the prices of goods and services related to maintaining and operating a household in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into consumer spending patterns and inflationary pressures on households, which are crucial for economic policymaking and market analysis.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of household purchases and market prices by statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this index to gauge overall consumer demand and the cost of living, which informs decisions around monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a short lag, providing timely insights into household spending and inflationary trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland (IRLCP050000GPM), retrieved from FRED.