News: CSL Australian shares end higher as miners surge; US CPI in focus

	  Miners gain 1.8% as iron ore prices rise 

	  Australia's consumer sentiment for April dipped 

	  Traders await U.S. inflation data 

(Updates to close)

Australian shares ended higher on Tuesday, propelled by bellwether miners as iron ore prices surged, even as investors were cautious ahead of key U.S. inflation data due Wednesday.

The S&P/ASX 200 index (xjo) crept up 0.5% to 7,824.200 at the close of trade. The benchmark closed 0.2% higher on Monday.

Globally, investors await the U.S. consumer price index data, a key inflation gauge, hoping it will clear the air on the Federal Reserve's monetary easing timeline. Expectations of a U.S. rate cut in June have ebbed after strong jobs data for March.

Back in Sydney, a survey suggested Australian consumer sentiment fell further in April, reflecting the local consumers' lessening confidence on the Aussie economy.

"In a positive for the RBA (Reserve Bank of Australia), leading indicators of price pressures – while still elevated – continued to subside. This suggests that inflation is likely to continue trend back towards the RBA’s target," Jarek Kowcza, a senior economist at Westpac said.

"This will be a slow process and upside risks cannot be ruled out, but progress has been positive so far."

On the resource-heavy bourse, heavyweight miners .AXMM led the charge with a 1.8% gain as iron ore prices continued to rise on hopes for improved demand in top buyer China.

Sector behemoth Rio Tinto (RIO) rose 3.2% while BHP Group gained 1.8%.

Financials .AXFJ rose 0.5% with the so called "Big Four" banks ending 0.6% to 1% higher.

The utilities sector .AXUJ rose 1% while industrials .AXNJ gained 0.6%.

Bucking the trend, health stocks .AXHJ lost 0.6%, with Australia's priciest stock CSL (CSL) falling 0.4%.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index (nz50) shed 0.5% to finish the session at 11,916.78, ahead of the Reserve Bank of New Zealand's monetary policy decision. The market expects the island country to cling onto its cash rate of 5.50% on Wednesday.