The consumer price index has dropped to a four year low of 2.0%, the Office for National Statistics announced this morning.
It rose in the year to December by 2.0% - down from 2.1% in November.
This month the CPI is at the Government's target of 2.0% - the first time that it has been at or below this figure since November 2009, when the index stood at 1.9%.
The CPI rose by 0.4% between November and December 2013, compared with a rise of 0.5% between the same two months in 2012.
The one month movement was therefore 0.1 percentage points lower this year compared with last year.
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This led to the CPI 12-month rate falling from 2.1% in November to 2.0% in December.
The other main consumer price indices were similar, with CPIH growing by 1.9% in the year to December 2013, unchanged from November.
RPIJ grew by 2.0%, also unchanged from November.
The ONS said the largest contributions to the fall in the rate came from prices for food and non-alcoholic beverages and recreational goods & services.
These were partially offset by an upward contribution from motor fuels.