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Australia’s Annual Inflation Rate Falls to 3.7% in February

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Canberra, March 25 (IANS) Australia’s annual rate of inflation fell to 3.7 per cent in February, defying the expectation of economists who had forecast it would remain at 3.8 per cent.According to official data released by the Australian Bureau of Statistics (ABS) on Wednesday, the consumer price index (CPI) rose by 3.7 per cent in the year to February, down from the 3.8 per cent reported in December and January.The Australian Broadcasting Corporation reported earlier on Wednesday that financial…