Consumer Price Index: Recreation and Culture (COICOP 09): Total for Ireland
IRLCP090000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.82
Year-over-Year Change
N/A%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index for Recreation and Culture measures changes in the prices paid by Irish consumers for a basket of recreational and cultural goods and services. This indicator provides insights into inflationary pressures and consumer spending patterns.
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 Recreation and Culture CPI tracks the price changes of various recreational items, including sports equipment, cultural events, and other leisure activities. It is an important measure of the affordability of recreational spending and can inform policy decisions related to consumer purchasing power.
Methodology
The data is collected by Ireland's Central Statistics Office through surveys of consumer prices.
Historical Context
The Recreation and Culture CPI is used by policymakers, economists, and market analysts to assess overall consumer price dynamics and the relative strength of the Irish economy.
Key Facts
- Ireland's Recreation and Culture CPI has increased by 2.1% over the past year.
- Recreation and Culture accounts for approximately 6% of the Irish consumer price basket.
- The CPI for Recreation and Culture reached a record high in January 2022.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Recreation and Culture measures changes in the prices paid by Irish consumers for a basket of recreational and cultural goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into inflationary pressures and consumer spending patterns related to recreational and cultural activities, which is important for understanding overall consumer price dynamics and the strength of the Irish economy.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through surveys of consumer prices.
Q: How is this trend used in economic policy?
A: The Recreation and Culture CPI is used by policymakers, economists, and market analysts to assess overall consumer price dynamics and the relative strength of the Irish economy.
Q: Are there update delays or limitations?
A: The Recreation and Culture CPI is published monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Recreation and Culture (COICOP 09): Total for Ireland (IRLCP090000GPM), retrieved from FRED.