Producer Prices Index: Economic Activities: Manufacture of Food Products: Total for Ireland
Growth rate same period previous year, Monthly
IRLPIEAFD01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.34
Year-over-Year Change
250.38%
Date Range
1/1/1996 - 12/1/2022
Summary
The 'Growth rate same period previous year, Monthly' trend measures the year-over-year change in a specific economic indicator on a monthly basis. This metric provides insight into the pace and direction of economic growth over time.
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 monthly growth rate indicator compares the current value of an economic variable to its level from the same month of the previous year. It is a key measure of economic momentum, as it removes the effect of seasonal patterns and reveals the underlying year-over-year trajectory.
Methodology
The growth rate is calculated as the percent change between the current month's value and the value from the same month one year prior.
Historical Context
Economists and policymakers closely monitor this metric to gauge the strength and stability of economic expansion or contraction.
Key Facts
- The growth rate can be positive or negative, indicating expansion or contraction.
- This metric removes seasonal effects to reveal underlying economic momentum.
- Monthly growth rates provide a timely gauge of the economy's performance.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year, Monthly' tracks the year-over-year percent change in a given economic indicator on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the pace and direction of economic growth, enabling analysts to assess the strength and stability of the economy over time.
Q: How is this data collected or calculated?
A: The growth rate is calculated as the percent change between the current month's value and the value from the same month one year prior.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to gauge the health of the economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data for this metric is reported on a monthly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Monthly (IRLPIEAFD01GYM), retrieved from FRED.