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Australian inflation slows giving rate cut hopes a lift

Australian inflation has slowed more quickly than expected, boosting optimism of a rate cut next month.

Consumer prices rose by 0.1 percent in the first three months of the year compared with the previous quarter, the statistical office said.

The annual rate of price growth was 1.6 percent, well below the 2.1 percent figure forecast by most analysts. 

(Source: BBC News )