The Australian share market has closed higher, as investors await US inflation figures overnight and local inflation data on Wednesday.

At the close on Tuesday, the benchmark S&P/ASX200 index was 3.4 points, or 0.06 per cent, higher at 5,543.3, while the broader All Ordinaries index was up 5.3 points, or 0.96 per cent, at 5,534.0, according to preliminary figures.

On the ASX 24, the September share price index futures contract was three points lower at 5,497, with 16,081 contracts traded.