Australian consumer prices rise 2.4% in February, slower than forecasts

SYDNEY (Reuters) – Australia’s consumer prices rose at a slower-than-expected pace in February, held back by a fall in electricity prices and a slowdown in housing inflation.

Data from the Australian Bureau of Statistics on Wednesday showed the monthly consumer price index was flat in February from January. The annual pace slowed to 2.4% from 2.5%, versus forecasts for no change.

The trimmed mean measure – a gauge of core inflation – rose an annual 2.7% in February, slowing from 2.8% in January.

(Reporting by Stella Qiu; Editing by Christopher Cushing)