SYDNEY (Reuters) – Annual growth in Australian consumer prices held steady in January as a rise in electricity costs was offset by a slowdown in the important housing sector, an outcome that should reassure policymakers that inflation is heading in the right direction.
Data from the Australian Bureau of Statistics on Wednesday showed the monthly consumer price index (CPI) fell 0.2% in January from December, when it rose 0.8%. The annual pace held at 2.5%, matching market forecasts.
The trimmed mean measure of core inflation rose an annual 2.8% in January, up from 2.7% in December. The January report only covers a portion of the full CPI basket and is concentrated on goods rather than services.
(Reporting by Wayne Cole; Editing by Jacqueline Wong)
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