BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were little changed on Wednesday after official data showed U.K. consumer price inflation accelerated more-than-expected in December to the highest since records began in 1997.
The pound edged lower against the euro and was broadly flat against the dollar despite consumer price inflation surging to 5.4 percent in December from 5.1 percent in November.
This was the highest annual inflation rate in the National Statistic data series, which began in January 1997.
Another report from the statistical office showed that factory gate price inflation slowed marginally in December.
Output price inflation decreased to 9.3 percent in December from 9.4 percent in November. This was the first time the annual rate of output inflation has slowed since May 2020.
The benchmark FTSE 100 was marginally higher at 7,565 after closing 0.6 percent lower in the previous session.
WH Smith jumped nearly 6 percent. The retail company said it expected a resumption in the recovery of its travel markets over the coming months.
Medical technology business Smith+Nephew rose over 1 percent after acquiring cementless unicompartmental knee system developer Engage Surgical for up to $135 million.
Centamin fell 2.6 percent after it reported gold production and costs in line with expectations for 2021.
Luxury brand Burberry soared 5.7 percent after upgrading its full-year forecasts.
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