The annual rate of inflation decreased slightly in August to 2.6% according to the latest figures from the CSO.
Increases in the price of fuel were offset by lower than forecast increases in the price of clothing and household goods.
Prices normally rise after the end of the summer sales in August. This year, that increase was less than last year's equivalent, and inflation overall fell from 2.7% in July to 2.6% last month.
This was despite a 23% annual increase in fuel costs, which have driven transport costs up by almost 6% in the past year and have also been blamed for the recent rise in the price of electricity.
Oil prices on the world market, while still volatile, have come back down to around €40 dollars a barrel. This morning in Paris the International Energy Agency said it believed a recent increase in the supply of oil had removed the underlying factors keeping prices at this level.
Overall, the price of services continues to rise at just under 4% while the price of goods has gone up by only 1.4%. Some of those services which are publicly administered, such as waste collection, have gone up by almost 13%.
The price of accommodation in hotels has gone up just over 10%.
