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SYDNEY, Jan 23 AAP

January 23 2013, 4:16PM

The Australian share market has closed higher/lower, after December quarter inflation figures came in lower than expected.

At the close on Wednesday, the benchmark S&P/ASX200 index was 8.7 points, or 0.2 per cent higher at 4,787.8, while the broader All Ordinaries index was up 9.2 points, or 0.2 per cent, at 4,812.1.

On the ASX 24, the March share price index futures contract was 14 points higher at 4,756, with 22,640 contracts traded.