(RTTNews) - A measure of inflation in Australia was down 0.2 percent in October compared to the previous month, the TD Securities-Melbourne Institute monthly inflation gauge said on Monday, marking the first decline in nearly three years following a 0.4 percent increase in September.

On an annual basis, inflation was still up 3.9 percent, the data showed, easing from the 4.5 percent increase in the previous month. The October figure marked the first annual reading below 4 percent since January, the report said.

According to official government data, inflation hit 5.0 percent in the third quarter of 2008, while core inflation came in higher at 4.7 percent.

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