IRONORE/ Sector-majors BHP Ltd BHP.AX and Rio Tinto RIO.AX jumped 1.6% and 2.2%, respectively. July 13 (Reuters) - Australian shares rose more than 1% on Thursday, led by a rally in commodity stocks, after U.S. inflation data showed consumer prices subsided in June, raising bets the Federal Reserve may have fewer rate hikes in store ahead. The U.S. Consumer Price Index (CPI) gained just 0.2% in June, data showed on Wednesday, underscoring expectations the Federal Reserve may let interest rates stand after one more 25-basis-point hike at its July policy meeting.