Australia’s CPI inflation held steady at 2.4% YoY in April, matching the pace in March and February, and trending slightly above expectations of a deceleration to 2.3% YoY.

• Trimmed mean CPI and CPI excluding volatile items rose to 2.8% YoY, up from 2.7% and 2.6%, respectively.
• Food and non-alcoholic beverages inflation eased to 3.1% YoY (from 3.4%), while fruit and vegetables rose 6.1% YoY and eggs surged 18.6% YoY.
• Housing costs rose 2.2% YoY, driven by rents up 5.0% and gas prices up 6.3%, while electricity prices fell -6.5% YoY due to expiring rebates.
• Transport CPI declined -3.2% YoY, with automotive fuel prices down -12.0% YoY after falling -7.6% in March.
• Recreation and culture CPI increased to 3.6% YoY (from 2.7% YoY), led by a 5.3% YoY jump in holiday travel and accommodation.