Aussie shares slip as hot inflation points to rate hike
Australia's share market has edged lower after the release of the latest inflation figures. -AAP Image
Australian shares have crept lower after hotter-than-expected inflation numbers ratcheted up bets on an incoming interest rate hike.
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The S&P/ASX200 fell 7.7 points on Wednesday, down 0.09 per cent, to 8,933.9, as the broader All Ordinaries dropped 17.9 points, or 0.19 per cent, to 9,250.6.
The bourse gave up a modest morning lift to slip lower in the afternoon, after yet another upside inflation surprise increased the chance the Reserve Bank will lift the cash interest rate at its first 2026 meeting next week.
Ongoing US dollar weakness has supported oil and gold prices, pushing energy and materials stocks higher while the nine remaining local sectors fell behind.
The Australian dollar is buying 69.95 US cents, up from 69.15 US cents on Friday at 5pm.
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