Consumer prices rose by 0.5% in July compared to the same month of 2018, according to the Central Statistics Office.
That represents a significant slowdown in the pace of inflation, which stood at 1.1% in the year to June and 1.7% in April.
In the year to July the cost of housing and utilities - including water, electricity and fuel - rose by 4%, while alcohol and tobacco prices were up 2.5%.
That was counteracted somewhat by a 6.8% fall in communications costs, with furnishings and household equipment costs down 3.8%.
According to the CSO insurance prices are up 0.9% in the past year, however the cost of motor insurance in particular is down 4.9%.