In the March quarter, the trimmed mean inflation rate dropped to 2.9%, down from 3.3% in the December quarter, and back within the Reserve Bank of Australia's (RBA) target inflation range of 2% and 3%. This also marked the lowest inflation rate in three years.

Australian consumer inflation held steady in April as higher health and holiday costs offset a drop in petrol prices, although the monthly measure tends to be volatile and left hopes for more interest rates cuts mostly intact.

Australias consumer inflation held steady in April, as rising health and travel costs offset falling petrol prices, reinforcing expectations for future interest rate cuts. The Australian Bureau of Statistics reported