The annual rate of inflation was steady at 2.7% for the third month in a row in July, according to the Central Statistics Office.
Prices were unchanged compared with June, though there were increases in mortgage repayments and food prices. But summer sales led to falls in the clothing and footwear and household equipment categories.
The EU harmonised measure of inflation - which excludes mortgage repayments - fell by 0.2% last month, giving an annual increase of 1%.
A breakdown showed that food prices rose by 0.7% during July, while the cost of mortgage repayments jumped by 2.3% as banks pushed up interest rates. Mortgage costs have now risen by more than 25% in the past 12 months. Rents rose by 0.2% in the month.
Clothing and footwear prices dropped by 3.6%, while furniture and household equipment prices were down 0.7%.
Transport costs rose by 0.2% in the month, with big increases in sea transport (13.3%) and air fares (11.8%) partly offset by 1% falls for both petrol and diesel.
Recreation and culture prices were down 0.4%, with newspaper prices falling 4.1% as VAT rate cuts were passed on. The VAT cuts also led to a 2.2% fall in hairdressing prices. There was a 0.3% drop in the restaurants and hotels category, though accommodation prices crept up 0.9%.
Davy economist Conall Mac Coille said ECB rate rises and oil and energy price increases were pushing up consumer prices. He said inflation was zero last month when these factors were excluded. The economist said pressure on household incomes should ease next year, however, as oil prices have fallen and the ECB looks less likely to lift rates again.
Goodbody's Dermot O'Leary said underlying price trends in the Irish economy remained deflationary, as businesses were cutting prices in an effort to boost demand.
