ASX continues lower as inflation points to rates hike
Aussies are bracing for another cost-of-living crunch as inflation ramps up due to the oil crisis. -AAP Image
Australian shares have fallen for a seventh straight session, as already sticky inflation - further aggravated by the Middle East energy crisis - rose to its highest rate in years
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The S&P/ASX200 fell 23.7 points on Wednesday, down 0.27 per cent, to 8,687, as the broader All Ordinaries slipped 19.3 points lower, or 0.22 per cent, to 8,915.7.
The consumer price index came in at 4.6 per cent in the year to March, lower than expected but spiking sharply from February and at now levels not seen since 2023.
The Australian dollar is buying 71.62 US cents, down slightly from 71.64 US cents on Tuesday at 5pm.
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