Positive overseas leads and higher prices for base metals have helped the Australian share market move slightly higher.

The Australian market has opened higher after strong leads from Wall Street and Europe and gains for the resources sector.

Consumer prices rose 0.3 per cent in January but inflation remains low enough for the Reserve Bank of Australia to cut the cash rate.

The Dow industrials has closed above 14,000 for the first time since 2007 following a positive US jobs report.