UK inflation fell to 2.2% in October from 2.7%, according to official figures.
According to the Office for National Statistics (ONS), this means a basket of shopping costing £100 in October 2012 would have cost £102.20 last month.
The fall has primarily come from price movements in transport and education. In transport, the main downward contribution came from fuel prices, with air fares and prices for second-hand cars also contributing.
The ONS said the three main contributors to the 12-month inflation rate in the last five years have been food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport.
When combined, these three sectors were reported, on average, to account for over half of the 12-month inflation rate each month.