Consumer prices rose by an average of 0.4% in 2017, according to an analysis by the Central Statistics Office.
There was no change on the figure for 2016, while in 2015, prices fell by on average 0.3% in the year.
The largest year-on-year increase in 2017 was recorded in April when prices rose by 0.9%.
There were two months when the year-on-year price changes were negative - these were June, when prices fell by 0.4%, and July, when the rate of deflation was 0.2%.
The largest increases in the year were recorded in the restaurants and hotels category, where prices rose by on average 2.3%.
The biggest falls were recorded in the clothing and footwear sector where prices were down by on average 4.3%.
In the month of December, prices were 0.4% higher compared to the same month the previous year, but were down 0.1% on November's average.
The biggest increases were in the area of housing and electricity and in transport, which was likely accounted for by oil price hikes through the month.
Ireland has been the fastest-growing economy in Europe for the last three years, but inflation has remained largely flat over that period.
Most recently, the Brexit-related fall in the value of Britain's pound against the euro has made imports cheaper.