CSO: Inflation at lowest since 2010

New figures from the Central Statistics Office have put the rate of inflation at its lowest level since December of 2010.

It stands at 1.6% for July, a drop of 0.1% on June.

The CSO also says consumer prices in July dropped by 0.1% in the month - which it says is down to the impact of summer sales.

Director of Retail Ireland, Stephen Lynam, says he hopes the lower prices will give rise to stronger consumer confidence.

"Inflation is low and there's a huge amount of value out there so hopefully we will now see a change in consumer mood.

"Sales are down by about a third since the boom and a recovery is long overdue."