Australia’s CPI inflation moved down from 2.5% YoY in January to 2.4% YoY in February, slightly below expectations of the rate remaining at 2.5% YoY.

• CPI (ex volatile items, holiday) inflation eased back to 2.7% YoY after rising to 2.9% YoY in the previous month.
• The food and housing segments both cooled to 3.1% YoY (prev 3.3% YoY) and 1.8% YoY (prev 2.1% YoY) respectively.
• Transport CPI inflation dropped to -0.9% YoY as auto fuel prices registered a -5.5% YoY decline.
• Recreation & culture was one of the only components rising, up 1.4% YoY in February vs 0,9% YoY in January.