Consumer prices index (CPI) inflation fell to 3.4% in May from 3.7% in April year-on-year, the Office for National Statistics reported.
The all-items retail prices index (RPI) fell from 5.3% to 5.1% over the same period.
Food and non-alcoholic drinks were the biggest contributor to the CPI’s declining rate. Meat and fruit prices contributed most to the change.
There was also a downward effect from alcoholic drinks and tobacco, recording media, toys and computer games, and a small upward impact from books as a result of a rise in non-fiction prices.
Food, alcoholic drinks and tobacco also exerted downward pressure on the rate of RPI.
There was a small upward contribution from household goods, “principally from furniture where the price of kitchen base units rose this year but fell a year ago” the ONS said. That rise was “partially offset” by a small downward effect from furnishings.