The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index fell to 0.3% year-on-year in April from 0.5% in March. Analysts had expected to remain unchanged at 0.5%.

The decrease was mainly driven by declines in air fares and prices for clothing, vehicles and social housing rent.

On a monthly basis, U.K. consumer prices increased 0.1% in April, missing expectations for a 0.3% gain, after a 0.4% rise in March.

Consumer price inflation excluding food, energy, alcohol and tobacco prices declined to 1.2% year-on-year in April from 1.5% in March, missing expectations for a decrease to 1.4%.

The Retail Prices Index decreased to 1.4% year-on-year in April from 1.6% in March, missing expectations for a fall to 1.5%.

The consumer price inflation is below the Bank of England's 2% target.