CANBERRA: Consumer prices in Australia are predicted to have eased 0.2 percent on month in February, the latest forecast from the Melbourne Institute revealed on Monday.
In January, the forecast called for a 0.4 percent decline on month. On a yearly basis, inflation is pegged at 2.1 percent – down from 2.3 percent in the previous month, but still barely within the Reserve Bank of Australia’s target range of 2 to 3 percent. Fuel costs were the key driver, tumbling 5.6 percent in the month.