The Melbourne Institute (MI) released its monthly inflation data for Australia on Monday. MI Inflation gauge for Australia was flat in March, after a 0.2% decline in February.

On a yearly basis, inflation gauge climbed 1.7% in March, after a 2.1% increase in February.

Prices for fruit and vegetables dropped 3.4% in March, audio, visual and computing equipment prices declined 2.2%, while prices for tobacco climbed 4.7% and holiday travel and accommodation prices were up 1.5%.