The Tánaiaste said it is important to ‘utilise’ US President Donald Trump’s 90-day tariffs pause.

Paschal Donohoe welcomed Mr Trump’s decision to pause the so-called reciprocal tariffs.

Lower rates should support growth amid signs that the post-pandemic recovery is slowing in the 20 countries that use the euro currency.

‘The period of elevated inflation now appears to have passed,’ Finance Minister Jack Chambers said of the inflation figure of 1.1%.

This compares to an annual increase of 2.6 per cent for the eurozone over the same period.

This compares with inflation of 2.3 per cent in Ireland in the 12 months to February 2024 and an annual increase of 2.6 per cent in the HICP for the Eurozone in the same period.

Energy prices fell by 6.3 per cent in the year to February