Ireland was the fifth most expensive EU state in 2011 with prices 17% above the EU average, according to new figures from the Central Statistics Office.
Only Denmark, Sweden, Finland and Luxembourg were more expensive.
The Measuring Ireland's Progress 2011 report, published today, shows that this was actually an improvement from 2008.
Then Ireland was the second highest in the EU, at 30% above the EU average.
The report also highlights that Ireland had the lowest inflation in the EU between 2007 and 2011.
After three successive years of falling GDP, Ireland recorded a positive GDP growth rate in 2011 of 1.4%.
The public balance deficit was the highest of any EU member state at just over 13% of GDP, while Government debt increased to just over 108% of GDP, having been at only 25% of GDP in 2007.
The number of new houses and apartments, after peaking at almost 90,000 in 2006, collapsed to 10,480 in 2011, below the level in 1970.
Ireland's employment rate was below the EU average, and its unemployment rate was the fifth highest rate in the EU.
The productivity of the Irish workforce remained above the EU average, the report added.
