SYDNEY, May 27 (Reuters) – Australian consumer prices increased by a little less than expected in April thanks mainly to a tax break on fuel, data showed on Wednesday, while core inflation ticked higher, in a sign interest rates might still have to rise further.
Data from the Australian Bureau of Statistics showed its monthly consumer price index (CPI) rose 0.4% in April, from the previous month, while the annual pace slowed to 4.2%, from 4.6%. Median forecasts had been for a rise of 0.6% in the month and an annual pace of 4.4%.
The trimmed mean measure of core inflation increased by 0.3% in the month, matching forecasts, nudging the annual pace up to 3.4% the highest since late 2024.
(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)
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