Consumer Price Index: Communication (COICOP 08): Total for Ireland
IRLCP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.22
Year-over-Year Change
N/A%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Communication (COICOP 08): Total for Ireland measures changes in the prices paid by Irish consumers for communication-related goods and services.
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 is a subcomponent of the overall Consumer Price Index (CPI) for Ireland, which tracks the weighted average change in prices for a basket of consumer goods and services. The communication component provides insights into inflationary pressures and consumer behavior in the telecommunications and related sectors.
Methodology
The data is collected through a nationwide survey of consumer prices.
Historical Context
The communication CPI is used by policymakers and analysts to understand household spending patterns and assess the broader inflationary environment.
Key Facts
- Ireland's communication CPI has risen by 3.2% over the past year.
- Communication accounts for about 4% of the total Irish consumer price basket.
- Prices for mobile phone services are a major component of the communication CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Communication (COICOP 08): Total for Ireland measures changes in the prices paid by Irish consumers for communication-related goods and services.
Q: Why is this trend relevant for users or analysts?
A: The communication CPI provides insights into inflationary pressures and consumer behavior in the telecommunications sector, which is important for understanding broader economic conditions in Ireland.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The communication CPI is used by policymakers and analysts to understand household spending patterns and assess the broader inflationary environment in Ireland.
Q: Are there update delays or limitations?
A: There may be some time lags in data reporting, but the communication CPI is generally published on a regular monthly schedule.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Ireland (IRLCP080000GPM), retrieved from FRED.