Australia’s inflation remains steady and within the Reserve Bank of Australia’s target band of between two and three percent.
The latest data from the Australian Bureau of Statistics (ABS) shows the monthly Consumer Price Index (CPI) indicator rose 2.4 percent in the 12 months to April.
ABS Head of Prices Statistics Michelle Marquardt said annual CPI inflation had been steady at 2.4 percent for the past three months.
Ms Marquardt said the largest contributors to the annual movement were Food and non-alcoholic beverages (+3.1 percent), Housing (+2.2 percent), and Recreation and culture (+3.6 percent).
She said annual trimmed mean inflation was 2.8 percent in April.
“This was up slightly from the 2.7 percent inflation in March and has remained relatively stable for the past five months.
“The CPI excluding volatile items and holiday travel measure rose 2.8 percent in the 12 months to April, compared to a 2.6 percent rise in the 12 months to March.”
Ms Marquardt said annual inflation for Food and non-alcoholic beverages was 3.1 percent in April compared to 3.4 percent in March.
She said this reflected slowing annual inflation, mainly for Fruit and vegetables and Meat and seafoods.
“While annual inflation eased for most food categories in April, egg prices were up by 18.6 percent in the past 12 months.
“This comes as supply has been affected by bird flu outbreaks.”
