Australian shares declined on Wednesday as investors weighed in on the September quarter consumer price index read.

The S&P/ASX 200 Index fell 0.8% or 68.80 points to close at 8,180.40.

Australia's consumer price index slowed to 2.8% year on year in the September quarter from 3.8% in the preceding three-month period, falling back within the Reserve Bank of Australia's target, data from the Australian Bureau of Statistics showed Wednesday.

In corporate news, Woolworths Group (ASX:WOW) reported total group sales of AU$18 billion in the first fiscal quarter ended Sept. 30, up 4.5% from AU$17.22 billion in the year-ago period.

Looking ahead, first-half earnings before interest and taxes are expected to be in the range of AU$1.48 billion to AU$1.53 billion, compared with AU$1.6 billion in the prior-year period. The retailer's shares fell 6% at market close.

Meanwhile, Bega Cheese (ASX:BGA) is seeing a "very challenged" consumer environment in fiscal 2025, following high-cost pressures in the previous fiscal year, Chief Executive Pete Findlay said during the dairy firm's annual general meeting.

Findlay reiterated the company's guidance for the full fiscal year issued in August of normalized earnings before interest, taxes, depreciation, and amortization of AU$190 million to AU$200 million. Its shares slid 2% at market close.

Finally, Pilbara Minerals (ASX:PLS) revenue fell 31% to AU$210 million in the fiscal first quarter ended Sept. 30 from AU$305 million in the fourth quarter of the fiscal year ended June 30.

The mining firm downgraded its production guidance to 700,000 to 740,000 tonnes of spodumene concentrates from the previous forecast of 800,000 to 840,000 tonnes. Its shares closed up 1%.