It's partly a result of lower prices for petrol, airfares and some food products.
But inflation remains above the Bank of England's target of 2%.
Editor of City AM Christian May says the government is welcoming the data.
IN: "That's a...
OUT: ...working."
DUR: 23 secs
http://www.fsnradionews.com/feeds/0218inflation-may1.mp3
ALT:
Editor of City AM Christian May says there is mixed economic news for the UK.
IN: "Three...
OUT: ...growing."
DUR: 23 secs
http://www.fsnradionews.com/feeds/0218inflation-may2.mp3