SYDNEY, April 26 (Reuters) - Australian inflation eased
from 33-year highs in the first quarter as the cost of living
saw the smallest rise in more than a year, while core inflation
dipped below forecasts suggesting less pressure for another hike
in interest rates.
Data from the Australian Bureau of Statistics on Wednesday
showed the consumer price index (CPI) rose 1.4% in the March
quarter, just above market forecasts of 1.3%.
The annual pace slowed to 7.0%, from 7.8%, again above
forecasts of 6.9%. For March alone, the CPI rose 6.3% compared
to the same month a year ago, down from 6.8% in February.
A closely watched measure of core inflation, the trimmed
mean, rose 1.2% in the March quarter, nudging the annual pace
down to 6.6% and under forecasts of 6.7%.
(Reporting by Wayne Cole; Editing by Himani Sarkar)
Messaging: wayne.cole.thomsonreuters.com@reuters.net))
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