Producer Prices Index: Economic Activities: Manufacture of Food Products: Domestic for Ireland
IRLPIEAFD02GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.18
Year-over-Year Change
209.23%
Date Range
1/1/1986 - 12/1/2022
Summary
The Producer Prices Index: Economic Activities: Manufacture of Food Products: Domestic for Ireland measures changes in producer prices for the domestic manufacture of food products. This metric is a key indicator of inflationary pressures and production costs within Ireland's food manufacturing industry.
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 Producer Prices Index (PPI) tracks changes in the prices received by domestic producers for their output. The Manufacture of Food Products index specifically measures price movements in the food production sector, providing insight into the cost dynamics facing Ireland's food manufacturers.
Methodology
The data is collected through surveys of Irish food producers and calculated as an index relative to a base year.
Historical Context
The PPI for food production is closely monitored by policymakers and economists to assess the state of the Irish economy and guide policy decisions.
Key Facts
- The index has a base year of 2015 = 100.
- Food production accounts for over 15% of Ireland's manufacturing output.
- Ireland's food and beverage industry employs over 50,000 people.
FAQs
Q: What does this economic trend measure?
A: The Producer Prices Index: Economic Activities: Manufacture of Food Products: Domestic for Ireland measures changes in the prices received by domestic producers for their food manufacturing output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into inflationary pressures and production costs within Ireland's food manufacturing industry, which is a key sector of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Irish food producers and calculated as an index relative to a base year.
Q: How is this trend used in economic policy?
A: The PPI for food production is closely monitored by policymakers and economists to assess the state of the Irish economy and guide policy decisions.
Q: Are there update delays or limitations?
A: The PPI data is typically published on a monthly basis with a short lag, providing timely insight into producer price dynamics.
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Citation
U.S. Federal Reserve, Producer Prices Index: Economic Activities: Manufacture of Food Products: Domestic for Ireland (IRLPIEAFD02GYM), retrieved from FRED.