Australia’s inflation holds steady at 3.4%

Australia’s inflation rate stayed consistent for the third month in a row in February, the Australian Bureau of Statistics (ABS) reported on Wednesday.

The ABS released figures showing that the consumer price index (CPI), Australia’s primary inflation indicator, increased by 3.4 per cent in the year leading up to February.

Michelle Marquardt, the head of price statistics at the ABS, stated in a press release that the annual inflation rate remained at 3.4 per cent for three straight months in February.