Australia’s Core Inflation Eases, Boosting RBA Case to Hold

Australia’s core inflation slowed in November, supporting the case for the Reserve Bank to keep interest rates unchanged for now as it assesses the impact of earlier policy easing.

The closely-watched trimmed mean gauge advanced 3.2% from a year ago, easing from 3.3% and matching economists’ expectations, data from the Australian Bureau of Statistics showed Wednesday. The headline CPI rose 3.4% in the 12 months through November, versus a forecast 3.6% increase.