Inflation is only increasing marginally, according to the latest estimated figures from the Central Statistics Office.
The cost of living rose by 0.1% in the 12 months to October compared to 0% in the year to September.
Much of the change is being driven by a fall in energy prices which were 13.5% down over the past 12 months. However, energy prices were up 0.3% in October.
Food prices are estimated to have increased by 0.4% in the last month and are up by 1.8% in the last 12 months.
When energy and unprocessed food is stripped out of the figures, the CSO said that inflation actually rose by 1.7% over the past year.
The CSO publishes the flash estimate of the rise in the cost of living from the EU Harmonised Index of Consumer Prices (HICP).
Eurostat will publish euro zone flash estimates of inflation from the EU HICP for October tomorrow.
The sharp fall last month put Irish inflation at the lowest level in the euro zone. Consumer prices were 1.7% higher on average year-on-year across the bloc in September.
