Economic Buzz: Australia inflation steady at 2.4% in April

Australia's consumer prices registered a steady increase in April, the Australian Bureau of Statistics reported Wednesday.

The monthly CPI indicator rose 2.4 percent year-on-year in April, the same as seen in March and February. The rate was forecast to ease marginally to 2.3 percent.

The largest contributors to the annual movement were food and non-alcoholic beverages, housing, and recreation and culture.

Excluding volatile items and holiday travel, the monthly CPI indicator rose 2.8 percent in April following a 2.6 percent rise in March.

Annual trimmed mean inflation climbed to 2.8 percent in April from the 2.7 percent in March.

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