Annual inflation in Australia eased more than expected in April, reinforcing signs of cooling price pressures.
Australia’s annual consumer price inflation decelerated to 4.2% in April, down from 4.6% in March and below the 4.4% consensus forecast. The print marks the lowest reading since November 2021, according to official data released Wednesday.
Analysts had anticipated a modest slowdown after March’s 4.6% increase, which followed a peak of 8.4% in December 2022. The latest figure aligns with the Reserve Bank of Australia’s projections for gradual disinflation, though services inflation remains elevated.
Markets showed limited reaction, with the Australian dollar holding steady near 0.6650 USD and bond yields edging slightly lower.