CANBERRA, Feb. 25 (Xinhua) -- Australia's annual rate of inflation remained steady at 3.8 percent in the year to January, according to official data released on Wednesday.
The Australian Bureau of Statistics said that the consumer price index (CPI) rose by 3.8 percent in the 12 months to January, matching the rate of inflation in the year to December 2025 following an increase from 3.4 percent in November.
The annual trimmed mean, a measure of underlying inflation preferred by Australia's central bank, rose from 3.3 percent in December to 3.4 percent in January.
Housing was the biggest driver of headline inflation in the year to January, rising by 6.8 percent compared to 5.5 percent in the 12 months to December, followed by food and non-alcoholic beverages and recreation and culture.
The Australian Associated Press reported on Wednesday morning that economists were expecting CPI growth to fall to 3.6 percent in January and the trimmed mean to remain at 3.3 percent.
In its latest projections released earlier in February, the Reserve Bank of Australia forecast that annual CPI growth would rise to 4.2 percent in June before falling back within its 2-3 percent target band by June 2027. ■