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Miners top gainers, BHP hits record high

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Australia inflation resumes climb in Nov

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U.S. CPI data awaited

Jan 11 (Reuters) - Australian shares ended at a nearly one-month high on Wednesday, as heavyweight mining stocks advanced on strong commodity prices, while domestic retail sales and inflation data indicated further room for monetary tightening.

The S&P/ASX 200 index ended 0.9% higher at 7,195.30 points, their strongest level since Dec. 16, 2022.

Iron ore futures rose on Wednesday as supply concerns boosted prices already heightened by brightening demand outlook in China, with base metals prices also jumping on demand optimism.

"China's reopening progress will continue to support the upside momentum in resources prices, further boosting Australian miners' growth and their stock prices in the first quarter," said Tina Teng, markets analyst at CMC Markets.

Meanwhile Australian retail sales data for November indicated a jump in consumer spending, giving a sign that consumption was proving resilient to rising interest rates and high inflation, which also resumed its upward trend last month.

Analysts at National Australia Bank, who have pencilled in a quarter-point hike each in February and March, expect Wednesday's data will not do much to shift the central bank's inflation assessment, which continues to closely examine wage growth.

Investors focus is also on U.S. inflation data due on Thursday, Jan. 12.

Teng believes bets for another cooling in U.S. inflation are "a main bullish factor to the global equity markets as the decelerating inflation in the United States may encourage the Fed to end its rate-hike cycle sooner".

Local miners advanced 1.8%, with behemoth BHP Group hitting a record high by jumping 2.3%, while Rio Tinto and Fortescue Metals rose 1.7% and 2.3%, respectively.

Financials were up 0.3%, with the three of the "Big Four" lenders gaining between 0.4% and 1.2%.

Energy stocks rose 0.6%, despite a drop in oil prices, with sector majors Woodside energy gaining 1.5%.

New Zealand's benchmark S&P/NZX 50 index fell 0.2%, or 11,636.99 points, to finish the session lower. (Reporting by Nausheen Thusoo in Bengaluru; Editing by Sherry Jacob-Phillips)