CANBERRA, March 26 (Xinhua) -- Australia's annual consumer price index rose 2.4 percent in the year to February 2025, down slightly from 2.5 percent in the previous two months, the Australian Bureau of Statistics (ABS) said Wednesday.
The main contributors to inflation were food and non-alcoholic beverages, alcohol and tobacco, and housing, said ABS head of prices statistics, Michelle Marquardt.
Underlying inflation indicators also showed a slight easing. The annual trimmed mean inflation stood at 2.7 percent in February, down from 2.8 percent in January, Marquardt said, adding inflation excluding volatile items and holiday travel also slowed to 2.7 percent in the 12 months to February, compared to a 2.9 percent rise in the 12 months to January.
Food and non-alcoholic beverage prices increased by 3.1 percent annually in February, easing from 3.3 percent in January, "reflecting a softening in annual inflation across a number of grocery items," according to the ABS.
Annual housing inflation fell to 1.8 percent in February from 2.1 percent in January, with rents rising 5.5 percent in the 12 months to February, the slowest growth since March 2023, as vacancy rates improved nationwide, statistics show.
New dwelling prices recorded a 1.6 percent increase in the 12 months to February, the lowest since May 2021, as builders offered discounts to attract buyers, the ABS said.
Automotive fuel prices dropped 5.5 percent over the year to February, accelerating from a 1.9 percent decline in January. However, on a monthly basis, fuel prices rose by 1.2 percent in February, the ABS noted. ■
