Inflation retreats from three-year high

Australia's annual inflation fell to 4.2 per cent in April from 4.6 per cent in March, driven by a federal petrol excise cut that halved fuel costs. The Australian Bureau of Statistics reported transport costs dropped 2.7 per cent after jumping 9.2 per cent previously. Underlying inflation rose slightly to 3.4 per cent, signaling persistent price pressures in the economy.

Summary by Glance · Brisbane Times