The annual rate of inflation dropped to 4.8% in January from 5% in December, according to figures from the Central Statistics Office.
Prices fell by 0.4% in the month, as winter sales drove down the prices of clothes, footwear and furnishings and mortgage interest rates were lowered in line with the ECB reduction in December. Clothing and footwear were particularly heavily discounted during the sales. falling 13.7%.
But health costs continued to rise, while alcohol and tobacco prices were also higher.
The EU harmonised index of consumer prices (HICP) annual rate rose from 4.6% in December to 4.7%. Mortgage interest payments are excluded from the HICP figure.
