Stock markets on Tuesday passed their first major test this week, edging higher after federal data showed the U.S. inflation rate has slowed by half since last year's highs.
The$S&P/ASX 200 (.XJO.AU)$edged up 0.3 per cent, or 22.2 points to 7161.1 at market open, buoyed by positive sentiment from the overnight release of US May CPI data that green lights the Federal Reserve to hit pause this month.