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A reading on UK consumer prices gave both London shares and the pound a boost early Wednesday, as the headline rate inflation eased but ‘sticky’ core inflation means the Bank of England has more work to do.
The FTSE 100 index opened up 8.25 points, or 0.1% at 7,859.28. The FTSE 250 was up 13.42 points, 0.1%, at 19,961.46, and the AIM All-Share was up 1.68 points, or 0.2%, at 859.87.
The Cboe UK 100 was up 0.1% at 785.81. The Cboe UK 250 was down 0.1% at 17,386.00, but the Cboe Small Companies was up 0.1% at 13,775.55.
In December, the UK consumer price index rose annually by 10.5%, compared to a 10.7% rise in November. Consensus had expected 10.6% inflation last month, according to FXStreet.
The print is down a from a four-decade high of 11.1% in October.
‘The potential downtrend in UK inflation could fan expectations that the Bank of England may hint an end to its tightening cycle, but we wouldn‘