Inflation retreats from three-year high

Australia's inflation fell to 4.2 percent in April from 4.6 percent in March, driven by a government fuel excise cut that reduced petrol prices by 7 percent. Transport costs dropped 2.7 percent after surging 9.2 percent previously. However, underlying inflation rose to 3.4 percent, signaling persistent price pressures in the economy.

Summary by Glance · SMH