Inflation has fallen in December from 3.1 to 3.0 per cent. Inflation was at its highest point since March 2012 in November.
The Office for National Statistics has attributed the result to the drop in prices for clothes and toys, with the falling price of board games and rise in popularity of video games causing an overall drop in prices.
The result was generally in line with economists predictions, following the drop in value of the pound in the wake of Brexit.
ONS senior statistician James Tucker said: "Inflation has been running at roughly the same rate since last spring following significant increases, partly due to the weaker pound after the European referendum.
"It remains too early to say whether today’s slight fall is the start of any longer-term reduction in the rate of inflation."