Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland
IRLCPHP0500GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.80
Year-over-Year Change
N/A%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices for Furnishings, Household Equipment and Routine Household Maintenance in Ireland measures price changes in this key consumer spending category. This data provides crucial insights into inflationary pressures and consumer behavior.
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 series tracks price fluctuations for a basket of household goods and services, including furniture, appliances, and routine home maintenance. It is a component of the broader Harmonized Index of Consumer Prices (HICP) and is used to assess changes in the cost of living and monitor economic conditions.
Methodology
The data is collected through surveys of retail establishments and service providers across Ireland.
Historical Context
This index is closely watched by policymakers and analysts to gauge household spending and inflationary trends.
Key Facts
- Ireland's household furnishings and equipment prices rose 2.3% in 2022.
- This index makes up about 6% of Ireland's overall consumer price basket.
- Prices in this category have remained relatively stable compared to other sectors.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks changes in the prices paid by Irish consumers for a basket of household furnishings, appliances, and routine maintenance services.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into inflationary pressures and consumer spending patterns within the household goods and services sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and service providers across Ireland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this index to gauge household spending and inflationary trends, which inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis with minimal publication delays, providing timely insights into this important consumer spending category.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Ireland (IRLCPHP0500GPM), retrieved from FRED.