By Biot-Savart's law, the magnetic field due to a current carrying wire is
$B=\frac{\mu_{0}}{4 \pi} \cdot \frac{I d l \sin \theta}{r^{2}}$
So, $B \propto \frac{1}{r^{2}}$
So, the magnetic field due to current decreases as inverse square of distance of the point of observation.