SYDNEY, AAP – Broad-based losses plagued the Australian share market ahead of the latest US inflation figures, tipped to show a 40-year record.

The ASX closed lower by 0.42 per cent on Tuesday and healthcare and technology stocks had the steepest losses.

The benchmark S&P/ASX200 index closed down 31.2 points, or 0.42 per cent, to 7454.

The index was about 200 points from its record high of August.

The All Ordinaries index closed lower by 37.7 points, or 0.48 per cent, to 7735.5.

Investors will soon examine US consumer price movements for March. Analysts have tipped 8.5 per cent year-on-year growth, which will increase pressure on policymakers to hike rates.

The Australian dollar was buying 74.27 US cents at 1623 AEST, lower from 74.38 US cents at Monday’s close.