Australian shares will likely slip into the red Wednesday following a decline on Wall Street and ahead of key inflation data.

According to Trading Economics, the consensus estimate is for a 2.2% print in November's consumer price index indicator, up from 2.1% in October.

Job vacancies for November are also slated for release.

Overnight, the S&P 500 fell 1.1%, the Nasdaq Composite lost 1.9%, and the Dow Jones Industrial Average dropped 0.4%, with declines in technology stocks.

In corporate news, Commonwealth Bank of Australia (ASX:CBA) failed to notify regulators before migrating 1 million customers to new bank accounts, resulting in unannounced additional withdrawal fees, The Australian reported Wednesday, citing Freedom of Information requests.

New York-listed Ivanhoe Electric kickstarted a survey campaign in Arizona as part of its exploration alliance with BHP Group (ASX:BHP).

Regal Partners' (ASX:RPL) funds under management rose 4.6% to around AU$18 billion as of Dec. 31, 2024, from AU$17.2 billion as of Sept. 30, 2024.

Australia's benchmark index rose 0.3%, or 27.70 points, Tuesday to close at 8,285.10.