The ASX 200 surges following the latest Australian inflation data.

The S&P/ASX 200 Index (ASX: XJO) is surging during Wednesday’s trade. The benchmark index was up 0.6% at 11:30am AEST when the Australian Bureau of Statistics (ABS) released the June quarter inflation figures. In the minutes following the latest consumer price index (CPI) report, investors pushed the ASX 200 up another 0.6%, resulting in a 1.2% gain in intraday trading at the time of writing.