SYDNEY (Reuters) -Australian consumer inflation held steady in April as higher health and holiday costs offset a drop in petrol prices, although the monthly measure tends to be volatile and left hopes for more interest rates cuts mostly intact.

Australias consumer inflation held steady in April, as rising health and travel costs offset falling petrol prices, reinforcing expectations for future interest rate cuts. The Australian Bureau of Statistics reported

Australia's inflation rate has held steady after a sharp rise in egg prices was somewhat offset by falling electricity costs.