Live: ASX tipped to rise ahead of key inflation numbers

Australian stock market investors have breathed a sigh of relief after a drop in inflation, which is expected to give the central bank breathing room.

The Australian sharemarket jumped at the open on Wednesday and extended gains after the release of the nation’s latest inflation figures.

The big focus locally is the consumer price index and what it will mean for interest rates. Globally, chipmaker stocks have been dumped, but the Dow rose on Wall Street. Follow the day's events and insights from our business reporters on the ABC News live markets blog.