The rate of inflation eased to 10.7% from 11.1% last month, according to official figures.
The Office for National Statistics (ONS) was widely expected to note a motor fuel-led decline in the core consumer prices index (CPI) measure of inflation.
It reflected falling oil costs and a slight recovery in the value of the pound versus the dollar on which oil costs are pegged.
The cost of living crisis, however, shows little sign of easing up in any substantial way given that household energy bills are running at record levels, despite government support, amid the first cold snap of the 2022/23 winter.
The Bank of England is widely expected by economists to add to the bills of borrowers on Thursday by raising Bank rate again as part of its battle against inflation.
A hike of at least 0.5 percentage points is forecast by the bulk of experts as policymakers across the West continue to bear down on the price threats posed to their economies from Russia’s war in Ukraine.
The invasion in February exacerbated the rising tide of price rises caused by economies reopening after COVID disruption, as many commodities, including food staples, widely produced in both countries soared in cost.
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The cost of manufacturing goods has added to the bills substantially too because of Russia’s historic role in supplying oil and gas – now reduced to a trickle in comparison amid sanctions regimes.
The Bank of England can do nothing to bear down on these prices, but it can act to take demand out of the economy – helping prices fall back – through Bank rate increases.
It believes that the country is already in the grip of a recession, defined by two consecutive quarters of negative growth.
A contraction in the third quarter of the year – July to September – is expected to be followed by a further dip in the current October to December quarter.
