Australian shares closed the week lower, tracking Wall Street, as investors nervously awaited the release of the US core personal consumption expenditures report that could impact the US Federal Reserve's interest rate decisions next year.

The S&P/ASX 200 Index fell 1.2% or 101.2 points to close at 8,067 Friday.

According to forecasts, the core personal consumption expenditure, the US Fed's preferred inflation gauge, likely grew 0.2% in November, Reuters reported.

In domestic news, Australia's total credit rose 0.5% in November, following a 0.6% increase in October, data from the Reserve Bank of Australia showed.

In company news, Wesfarmers (ASX:WES) agreed to sell its Coregas business to a subsidiary of Tokyo Stock Exchange-listed Nippon Sanso for AU$770 million. Shares of the company fell 5% at market close.

Meanwhile, Vicinity Centres (ASX:VCX) fetched AU$457 million after selling several assets, topping its targeted asset divestments of AU$250 million for fiscal 2025. Shares of the company closed up almost 1%.

Lastly, Tabcorp Holdings (ASX:TAH) named Jarrod Villani as chief commercial and media officer and appointed Narelle McKenzie as chief legal officer.