Australia’s inflation slows, adds to rate pause case

Break time: Pedestrians walk past the Reserve Bank of Australia building in Sydney. Many analysts think the central bank will hike at least once more, some believe it might pause in April before moving in May following inflation data for the first quarter. — Reuters

SYDNEY: Australian inflation slows to an eight-month low, thanks in part to a sharp retreat in holiday travel and accommodation, adding to the case for a pause in interest rate hikes next month.

Data released by the Australian Bureau of Statistics yesterday showed its monthly consumer price index (CPI) rose 6.8% in the year to February, the slowest since June last year.