Australia shares set to track Wall St lower, NZ slips

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March 11 (Reuters) - Australian shares were set to slip on Friday, following a slump in Wall Street overnight as inflation data hit a four-decade high, while easing commodity prices were likely to pressure local mining and energy stocks.

The local share price index futures fell 0.6%, a 41.8-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark ended 1.1% higher in the prior session.

New Zealand's benchmark S&P/NZX 50 index (.NZ50) fell 0.2% 11,905.50 points in early trade.

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Reporting by Savyata Mishra in Bengaluru

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