SYDNEY, March 1 (Reuters) - A measure of Australian
consumer prices rose by less than expected in January thanks to
a drop in the cost of travel, clothing and fruit and vegetables,
a promising sign inflation might be past its peak.
Data from the Australian Bureau of Statistics on Wednesday
showed its monthly consumer price index (CPI) rose 7.4% in the
year to January, unwinding an alarming surge to 8.4% in December
and well under market forecasts of 8.0%.
The ABS said prices excluding volatile fruit, vegetables and
fuel rose 7.2% in the year to January, down from 8.1% in
December.
(Reporting by Wayne Cole
Editing by Shri Navaratnam)
Messaging: wayne.cole.thomsonreuters.com@reuters.net))
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