ASX Falls as US Inflation Data Confirms Steady Rates

Australian shares declined by 0.23% as US inflation data came in line with expectations, leading to no changes in interest rates from the Federal Reserve.

The S&P/ASX 200 closed at 9,188.5, mirroring muted movements in the US market. The US consumer price inflation reading was roughly as expected, which shifted focus from rate hikes to individual company performance.

Cleanaway Waste Management's share price surged due to a conditional takeover approach from EQT Infrastructure worth AU$3.13 per share. This led investors to price the stock based on deal odds rather than market swings.