The European Union measure of inflation has confirmed the Republic's position at the top of the EU inflation league, showing Irish consumer prices rising by 4.4 per cent in January.
The EU harmonised index of consumer prices (HICP) found that prices fell by 0.3 per cent on the month but that they had accelerated on an annual basis from the 3.9 per cent rate in December.
The HICP differs from the official consumer price index (CPI) - which showed an annual increase of 4 per cent for January when it was released last week - as it does not include items such as mortgage interest payments.
In recent months, it has tended to be higher than the Irish CPI, but the January figures are broadly in line with price increases showing up in much the same categories.
On a year-on-year basis, alcohol and tobacco prices were up a hefty 13 per cent, reflecting the Budget day increase of 50 pence on a packet of 20 cigarettes.
Transport costs also rose strongly, increasing by 7.8 per cent, reflecting the higher cost of petrol, diesel and public transport fares.
Higher oil prices took their toll on the housing, water, electricity, gas and other fuels category, where prices were up by 7.7 per cent, following an increase in the cost of home heating oil.
The EU index also confirmed the upward trend in inflation in the services sector identified by the CPI.
Education costs were up by 6.5 per cent on last January and health costs rose by 5.1 per cent, while the hotels, cafes and restaurants category saw price increases of 4.8 per cent.
As with the CPI, clothing and footwear costs were down on a year-on-year basis because of competition in the winter sales, which also depressed the price of furnishings and household equipment.
With most EU member-states finalising their January figures, the latest comparable data for EU member-states is for December. This shows Irish inflation, at 3.9 per cent, well above that of Spain, which had the next highest rate in the euro zone at 2.8 per cent. The Irish figure is more than double the EU average of 1.7 per cent.
Economists noted that the gap between inflation in the Republic and the rest of the euro zone has roughly trebled over the last six months.
"While it is true that higher oil prices and higher excise duties on cigarettes have played a significant role, it is simplistic to suggest the recent deterioration in Irish inflation is simply a reflection of these influences," said Mr Austin Hughes, economist with IIB Bank.
He noted that of the 12 subcategories published with the December HICP, the Republic is highest in the euro zone in nine, and above average in 11, though other analysts said this was hardly surprising given the differential in growth rates.
The Central Statistics Office (CSO) also released the January wholesale price index yesterday and this too confirmed price pressures in the economy.
Producer prices accelerated again last month, increasing by 5.4 per cent over the previous January after posting a year-on-year rise of 5.1 per cent in December.
Again, oil was a big factor, with the price of energy products 21 per cent higher in January than a year earlier. The price of petroleum fuels rose by a whopping 38 per cent alone.
