Australia Inflation Eases In February

(RTTNews) - Australia inflation slowed slightly in February, data from the Australian Bureau of Statistics showed Wednesday.

The consumer price index increased 3.7 percent year-on-year, slower than the 3.8 percent rise in January. Prices were expected to climb 3.8 percent.

Trimmed mean inflation was unchanged at 3.3 percent in February.

On a monthly basis, the CPI remained flat, in line with forecast, after rising 0.4 percent in January.

Data showed that the largest contributor to annual inflation was housing, which rose 7.2 percent. This was followed by a 3.1 percent rise in food and non-alcoholic beverages and a 4.1 percent increase in recreation and culture.