Australia inflation cools, boosts case for pause

The consumer price indicator rose 4.9% from a year earlier, the first reading for the fourth quarter and was lower than economists’ estimates of 5.2%, Australian Bureau of Statistics data showed. — Bloomberg

SYDNEY: Australia’s monthly inflation gauge snapped two months of acceleration in October, bolstering the case for the central bank to resume pausing interest rates next week.

The consumer price indicator rose 4.9% from a year earlier, the first reading for the fourth quarter and was lower than economists’ estimates of 5.2%, Australian Bureau of Statistics data showed yesterday.