Britain's Consumer Price Index (CPI), a major gauge for inflation, fell to 3.4 percent in February from 3.6 percent in the previous month, said the Office for National Statistics (ONE) on Tuesday.

This is the lowest annual inflation level Britain has seen since November 2010.

The ONE attributed the drop in the CPI rate mainly to falling domestic energy, recreation and culture and transport costs.

The biggest upward pressures to the change in inflation rate were from alcohol off sales and vegetables, it said.

British central bank has set a target to bring the CPI rate down to 2 percent by the end of 2012.

The statistics office said in the mean time that Retail Prices Index (RPI) inflation, while covers mortgage interest payments, fell to 3.7 percent in February from 3.9 percent in January.

The largest downward pressures for the RPI inflation came from motoring expenditure and fuel and light, which is partially offset by rising alcoholic drink prices.