The annual inflation rate remained stable at 2.2 per cent in July, according to the latest figures from the Central Statistics Office (CSO). This rate is unchanged from June.
Inflation, as measured by the Harmonised Index of Consumer Prices (HICP), which excludes mortgage interest costs, also held steady at 1.5 per cent year-on-year.
As per the CSO data, the transport sector saw the largest price hikes, with a notable 5.5 per cent increase over the year, primarily due to price hikes of diesel (nearly 12 per cent) and petrol (8.8 per cent).
Similarly, prices in restaurants and hotels climbed by 4.3 per cent compared to July of the previous year.
In contrast, the clothing and footwear sector recorded the biggest annual declines, with prices dropping by 4.9 per cent. Furnishings and household equipment also saw a decrease, with prices down 1 per cent year-on-year.