Inflation eased to 2.2% in October, falling from 2.7% in September as prices eased across fuel and education fees.
The fall is the lowest rate since September 2012, as it dropped below forecasts of 2.5%.
Data from the Office of National Statistics showed food inflation fell from 4.8% to 4.3%.
But the biggest downward contributions came from the fuel and education categories.
The ONS recorded an overall 1.5% fall in transport prices in October year-on-year. This was due to a slump in petrol prices by 4.9p per litre and a decline in diesel prices of 2.9p per litre.
In addition, price growth in the education category eased to 8.2% from a 19.1% rise last year due to tuition fees across the EU and UK.
According to the ONS there were “no notable” upward contributions to inflation.