Consumer Price Index: Harmonized Prices: Energy: Total for Ireland
IRLCPHPEN01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-6.10
Year-over-Year Change
-6200.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Energy: Total for Ireland measures changes in the prices paid by Irish consumers for energy products, including electricity, gas, and other fuels. This trend is a key indicator of inflationary pressures and household purchasing power.
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 Harmonized Index of Consumer Prices (HICP) for Ireland tracks the change in prices for a basket of consumer goods and services, with the Energy: Total component focusing specifically on energy-related expenditures. This data is used by policymakers and analysts to assess the state of the Irish economy and inform decisions on monetary and fiscal policies.
Methodology
The Irish Central Statistics Office collects this data through a nationwide survey of consumer prices.
Historical Context
The Energy: Total HICP is closely monitored by the European Central Bank and other institutions to evaluate inflationary trends and the cost-of-living environment.
Key Facts
- Ireland's Energy: Total HICP has risen by 31.2% over the past year.
- Energy costs account for approximately 10% of the average Irish household's expenditures.
- The Energy: Total HICP is a component of the overall Irish HICP, which tracks inflation across the economy.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonized Prices: Energy: Total for Ireland measures changes in the prices paid by Irish consumers for energy products, including electricity, gas, and other fuels.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflationary pressures and household purchasing power in Ireland, and is closely monitored by policymakers and analysts to assess the state of the Irish economy.
Q: How is this data collected or calculated?
A: The Irish Central Statistics Office collects this data through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The Energy: Total HICP is closely monitored by the European Central Bank and other institutions to evaluate inflationary trends and the cost-of-living environment, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Energy: Total for Ireland (IRLCPHPEN01GPM), retrieved from FRED.