Inflation retreats from three-year high
Inflation in Australia has decreased from a three-year high, falling to 4.2 percent in April. This decline is attributed to a federal government cut to petrol excise, which has helped reduce living costs. However, underlying inflation has slightly increased, indicating persistent price pressures in the economy.
- ▪Inflation fell to 4.2 percent in April after reaching 4.6 percent in March.
- ▪Petrol prices dropped by 7 percent from March to April, contributing to the overall decline in inflation.
- ▪Underlying inflation rose to 3.4 percent, suggesting ongoing price pressures despite the recent decrease.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.