Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland
IRLCP050000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.00
Year-over-Year Change
0.00%
Date Range
11/1/1982 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Furnishings, Household Equipment and Routine Household Maintenance in Ireland measures the change in prices for these consumer goods and services over time.
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 CPI trend tracks inflation for a broad basket of household furnishings, appliances, tools, and maintenance services in Ireland. It is a key indicator used by economists and policymakers to monitor consumer spending and inflationary pressures.
Methodology
The data is collected by Ireland's Central Statistics Office through surveys of household expenditures.
Historical Context
This CPI data informs the monetary policy decisions of the European Central Bank.
Key Facts
- The base year for this CPI index is 2015=100.
- Ireland's Furnishings CPI reached its highest level in July 2022.
- Routine household maintenance makes up around 20% of the CPI basket.
FAQs
Q: What does this economic trend measure?
A: This CPI trend measures the changes in prices for a wide range of household furnishings, appliances, tools, and maintenance services in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This CPI data is a key indicator of inflationary pressures and consumer spending patterns, which are important for economic policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of household expenditures by Ireland's Central Statistics Office.
Q: How is this trend used in economic policy?
A: This CPI data informs the monetary policy decisions of the European Central Bank, which aims to maintain price stability in the Eurozone.
Q: Are there update delays or limitations?
A: The CPI data is typically published on a monthly basis with a short lag, providing timely information to policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland (IRLCP050000IXNBM), retrieved from FRED.