Australia Inflation Slows to 4.2 Percent in April
Australian annual consumer price growth slowed to 4.2% in April as a government fuel excise cut helped offset rising core inflation. The data led markets to reduce the probability of an August interest rate hike while the central bank monitors a loosening labor market and global energy risks.
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Australia annual consumer price inflation slowed to 4.2% in April, missing economist forecasts of 4.4% as fuel prices dropped. Monthly CPI rose 0.4%, down from 4.6% in the previous annual reading following a government fuel tax cut. The data lowered the probability of an August interest rate hike to 40% from 51% previously.
