MNI BRIEF: Aussie Trimmed Mean at 2.7% Y/Y Over Feb

Monthly annual trimmed mean inflation fell 10 basis points to 2.7% y/y in February, while the headline CPI indicator printed at 2.4%, data from the Australian Bureau of Statistics showed Wednesday.

Food and non-alcoholic beverages (+3.1 per cent), alcohol and tobacco (+6.7 per cent), and housing (+1.8 per cent) represented the largest contributors to the monthly gauge. Insurance and financial services rose 4.5%, compared to January’s 5.3%. 

"The CPI excluding volatile items and holiday travel measure rose 2.7% in the 12 months to February, compared to a 2.9% rise in the 12 months to January," said Michelle Marquardt,  head of prices statistics at the ABS.