Australia's inflation gauge rose 0.5 percent month-on-month in March, following a 0.1 percent increase in February, a report from the TD Securities and Melbourne Institute showed Monday.
In the twelve months to March, the Inflation Gauge increased 1.8 percent, marking the lowest annual inflation rate in two years.
Contributing to the overall change in March were price rises for holiday travel and accommodation, alcohol and tobacco, and automotive fuel. These were offset by price declines in meat and seafood, housing, and clothing and footwear, the report said.
The trimmed mean of the Inflation Gauge rose 0.3 percent in March from a month earlier. Annually, it rose 1.9 percent, returning to level below the bottom of the Reserve Bank's 2-3 percent target band.
by RTT Staff Writer
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