Harmonized Index of Consumer Prices: Services Related to Transport for Ireland
SERVTRIEM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.90
Year-over-Year Change
-3.83%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices: Services Related to Transport for Ireland measures the changes in prices for transport-related services in Ireland. This trend is an important indicator of inflation and consumer spending in the Irish 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 Harmonized Index of Consumer Prices (HICP) is a standardized measure of inflation used across the European Union. The Services Related to Transport index specifically tracks price changes for services like passenger transport, vehicle maintenance, and other transport-related costs for Irish consumers.
Methodology
The data is collected through surveys of Irish households and businesses by Eurostat, the statistical office of the European Union.
Historical Context
Policymakers and economists closely monitor HICP trends to assess consumer demand and guide monetary and fiscal policy decisions.
Key Facts
- The base year for the HICP is 2015 = 100.
- Services related to transport account for around 13% of the total Irish HICP basket.
- Inflation in transport services can impact overall consumer price trends in Ireland.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices: Services Related to Transport for Ireland measures changes in the prices paid by Irish consumers for transport-related services like passenger transport, vehicle maintenance, and other mobility costs.
Q: Why is this trend relevant for users or analysts?
A: This HICP services trend is an important indicator of inflation and consumer spending patterns in the Irish economy. Transport costs are a significant component of household budgets, so changes in these prices can impact overall consumer demand and prices.
Q: How is this data collected or calculated?
A: The data is collected through household and business surveys conducted by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor HICP trends, including the Services Related to Transport index, to assess inflationary pressures and consumer demand. This information helps guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of approximately one month. There may also be limitations in capturing all relevant transport service costs in the index basket.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Services Related to Transport for Ireland (SERVTRIEM086NEST), retrieved from FRED.