A surprise result from Australia’s monthly consumer price indicator on Wednesday helped spur the sharemarket to its best one-day rally in more than six weeks.
The inflation indicator for July eased to 4.9 per cent from 5.4 per cent in June, catching many economists off-guard and triggering a rally in equities. The S&P/ASX 200 closed up 87.2 points, or 1.2 per cent, to 7297.70, the largest single-day gain since mid-July. The All Ordinaries also rose 1.2 per cent.
