SYDNEY (Reuters) -Australian consumer prices in April rose above forecasts as higher insurance and holiday costs offset a drop in petrol, while core inflation edged higher in a slightly disappointing report.
Data from the Australian Bureau of Statistics on Wednesday showed the monthly consumer price index (CPI) rose 2.4% in April compared to a year earlier, unchanged from March but above median forecasts of 2.3%. Estimates had ranged widely from 1.9% to 2.5%.
The trimmed mean measure of core inflation increased by an annual rate of 2.8% in April, up from 2.7% in March. A measure excluding volatile items and holiday travel also picked up to 2.8%, from 2.6%.
(Reporting by Wayne Cole; Editing by Christian Schmollinger)
