Ireland’s annual inflation rate is estimated to have risen to 3.4% in August, as consumers faced another increase in energy prices.

New figures from the Central Statistics Office show energy costs rose by an estimated 4.3% between July and August.

Compared with August last year, energy prices have increased by 11.8%.

The figures are contained in the latest flash estimate of the Harmonised Index of Consumer Prices, which is used to compare inflation across EU countries.

While energy costs climbed, the CSO estimates food prices moved in the opposite direction during August.

Food prices fell by 0.2% compared with July, although they remained 0.1% higher than they were during the same month last year.

Overall, consumer prices are estimated to have increased by 3.4% over the 12 months to August.

The latest figures come amid volatility in global energy markets and uncertainty surrounding the US-Iran conflict, which has contributed to pressure on oil prices.

The CSO’s figures are preliminary, with final inflation data for August due to be published in September.