Annual inflation rate falls to 1.7% in May

Areas which saw the largest price increases over the last 12 months were food and non-alcoholic drinks, up 4%, while alcoholic drinks and tobacco saw a 3.1% increase

The cost of transport and clothing saw the largest price declines in May. 

The annual rate of inflation dropped to 1.7% during May, down from 2.2% the prior month, as transport as well as clothing and footwear costs declined, new data from the Central Statistics Office (CSO) shows.

The areas which saw the largest price increases over the last 12 months were food and non-alcoholic drinks, up 4%, which was primarily due to higher prices across a range of products such as meat, chocolate and confectionery and milk, cheese and eggs.