Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland
IRLCP120000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.14
Year-over-Year Change
298.78%
Date Range
4/1/1983 - 7/1/2023
Summary
The Consumer Price Index: Miscellaneous Goods and Services (COICOP 12) for Ireland measures the changes in prices of various miscellaneous goods and services, providing insights into overall consumer inflation in the country.
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 is a key component of the broader Irish Consumer Price Index, tracking price movements across a range of categories not covered by other indices, such as personal care, social protection, and financial services. It serves as an important indicator for economists and policymakers monitoring domestic price trends.
Methodology
The data is collected through regular surveys of consumer expenditures and retail prices across Ireland.
Historical Context
This index is used to inform monetary and fiscal policy decisions in Ireland.
Key Facts
- The index has a base year of 2015.
- Miscellaneous goods and services account for around 13% of the Irish CPI basket.
- Prices in this category have risen by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Miscellaneous Goods and Services (COICOP 12) for Ireland measures price changes for a range of items not covered by other consumer price indices, such as personal care products, financial services, and social protection.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into overall consumer inflation in Ireland, helping economists and policymakers monitor price pressures across the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of consumer expenditures and retail prices across Ireland.
Q: How is this trend used in economic policy?
A: The COICOP 12 index is used to inform monetary and fiscal policy decisions in Ireland, as it provides a comprehensive view of price movements in the country.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical delay of 2-3 weeks, providing timely information on price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Ireland (IRLCP120000GPQ), retrieved from FRED.