Australia’s CPI flat on month in February; up 3.7% on year

[SYDNEY] Australian consumer prices were flat in February as prices for domestic holidays and petrol dipped, while core inflation came in a little slower than forecast, though all this preceded the spike in energy costs seen so far in March.

Data from the Australian Bureau of Statistics out on Wednesday showed its monthly consumer price index (CPI) was unchanged in February, from the previous month, while the annual pace slowed to 3.7 per cent, from 3.8 per cent. Median forecasts had been for a flat outcome in February and an annual rise of 3.8 per cent.

The trimmed mean measure of core inflation increased by 0.2 per cent in the month, under forecasts of 0.3 per cent, keeping the annual pace steady at 3.3 per cent. January’s increase was revised down to 3.3 per cent, from 3.4 per cent. REUTERS