The Australian stock market is rising in line with the US stock market, with inflation data becoming the focus.

The Australian S&P/ASX200 index rose 0.4% to 8,973.30, following the gains of its US counterparts overnight, with the earlier decline in the US dollar helping to boost the stock market. The mining sector index provided the biggest boost to the index. Traders will be waiting for the release of quarterly CPI data at 11:30 local time, with expectations that the inflation rate will remain above the central bank's target range of 2%-3%. This data will be closely watched before the Reserve Bank of Australia's first policy decision of the year next week. The New Zealand S&P/NZX 50 index fell 0.2% to 13,488.75 points.