The Government has expressed concern at the latest increase in the annual rate of inflation.
The rate accelerated at a faster rate than expected to 4.2% this month, up from 3.9%.
This means the cost of living in Ireland is significantly higher than the average of 2.5% across the eurozone.
Speaking on behalf of the Government, Minister Mary Coughlan said the increase in inflation is partly due to external developments over which the Government has no control.
These factors include higher oil prices and increased European Central Bank interest rates.
Overall energy products increased by 10% over the past year. Last month alone the increase was almost 1%.
Over the past 12 months petrol prices have increased by 13%, diesel prices by 6% and home heating oil is up 10%.
Mortgage repayments have also increased as interest rates have risen. People have also been borrowing larger sums for more expensive houses.
As a result mortgage costs are 33% higher than last year.
Experts say the higher rate of inflation will put more pressure on the Government at the next Budget.
