Production: Manufacturing: Consumer Goods: Total for Ireland
Monthly, Seasonally Adjusted
IRLPRMNCG01IXOBSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.62
Year-over-Year Change
8.69%
Date Range
7/1/1975 - 5/1/2016
Summary
The Monthly, Seasonally Adjusted series measures inflation in the personal consumption expenditures (PCE) index, a key indicator of consumer price trends in the U.S. economy.
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 PCE price index tracks changes in the prices paid by consumers for a basket of goods and services. It is a widely followed metric used by policymakers and economists to monitor inflation and guide monetary policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers at the Federal Reserve closely monitor the PCE price index when setting interest rates and assessing the overall health of the economy.
Key Facts
- The PCE price index rose 6.3% in the 12 months ending in January 2023.
- The Federal Reserve targets an average inflation rate of 2% for the PCE price index.
- The PCE price index is the Federal Reserve's preferred measure of consumer inflation.
FAQs
Q: What does this economic trend measure?
A: The Monthly, Seasonally Adjusted series measures changes in the prices paid by consumers for a broad range of goods and services in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The PCE price index is a key indicator of consumer inflation and is closely watched by policymakers, economists, and market participants to assess the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: The Federal Reserve uses the PCE price index as a guide when setting monetary policy, including interest rates, to achieve its inflation target and promote stable economic growth.
Q: Are there update delays or limitations?
A: The PCE price index data is released monthly with a brief delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (IRLPRMNCG01IXOBSAM), retrieved from FRED.