Inflation within target takes pressure off Reserve Bank

Inflation has remained within the Reserve Bank's 2-3 per cent target, taking pressure off the RBA to consider early rate rises.

Economist forecasts had centred on a consumer price rise of 3.2 per cent in the year to the end of March, but the Bureau of Statistics figures show inflation was 2.9 per cent over that period.

Prices rose just 0.6 per cent in the quarter, below an expected 0.8 per cent, with much of the increase due to seasonal factors.

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