The Harmonised Index of Consumer Prices went down to 118.23 in November, from 120.49 in October.
The National Statistics Office said this primarily reflected a decrease of 10.2 per cent in the restaurants and hotels index, mainly due to seasonally lower-priced accommodation services.
In November, the 12-month moving average rate of inflation stood at 3.1 per cent and the annual rate stood at 3.6 per cent.