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The Australian sharemarket had a soft start to Wednesday's trading session, despite Wall Street hitting fresh record heights, as local investors were awaiting inflation data seen crucial for the Reserve Bank's next decision on interest rates.
The S&P/ASX 200 slipped 9.2 points, or 0.1 per cent, to 9003.30 as of 10.51am AEDT, with seven of its 11 industry sectors in the red. The flattish start comes after the ASX lost 0.5 per cent on Tuesday. The Australian dollar was trading at US65.82¢.
The Australian Bureau of Statistics will publish its Consumer Price Index for the September quarter at 11.30am AEDT. The inflation data is the last piece of the economic puzzle for the RBA before it decides whether to cut rates on Melbourne Cup Day.
Woolworth shares gained 1.8 per cent in early trade even after the nation's biggest supermarket operator reported weaker-than-expected sales figures for the September quarter. Chief executive Amanda Bardwell said the company's performance "was below our aspirations" as food sales at its supermarkets rose 2.2 per cent in the quarter, falling short of analyst forecasts.