Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland
IRLCP120000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.20
Year-over-Year Change
-295.39%
Date Range
12/1/1982 - 11/1/2023
Summary
The Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland measures changes in the prices of a basket of miscellaneous goods and services in Ireland. It is a key indicator of overall price levels and consumer inflation in the Irish economy.
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 index tracks the prices of a diverse range of products and services, including personal care, social protection, insurance, and financial services. It is an important tool for economists and policymakers in understanding consumer spending patterns and the cost of living in Ireland.
Methodology
The data is collected through surveys of businesses and households by the Central Statistics Office of Ireland.
Historical Context
Trends in this index are closely monitored by the Irish government and the European Central Bank to inform economic and monetary policy decisions.
Key Facts
- The base year for this index is 2015.
- Miscellaneous goods and services account for around 13% of the consumer price basket in Ireland.
- The index reached its highest level on record in July 2022.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of a wide range of miscellaneous goods and services, including personal care items, financial services, and social protection, in Ireland.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of overall consumer price levels and inflation in the Irish economy, which is crucial information for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: Trends in this index are closely monitored by the Irish government and the European Central Bank to inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland (IRLCP120000GPM), retrieved from FRED.