Australian inflation below expectations

Australia’s inflation rate in February came in at 6.8%, below expectations. Australia’s monthly inflation rate in February came in at 6.8%, slower than the same period a year earlier. Inflation was below January’s 7.4% figure and also below economists’ expectations of 7.1%. Data from the country’s statistics bureau showed the most significant price increases were in housing, followed by food and non-alcoholic drinks, and then transport. Inflation figures and retail sales data released on Tuesday will play a key role in the Reserve Bank of Australia’s decision on whether to raise interest rates in April.