Stock market recovery continues ahead of UK inflation data – business live

All the day’s economic and financial news, including the latest UK consumer prices index figures

8.28am GMT

Investec economist Victoria Clarke predicts that Britain’s inflation rate held steady at 3% las month – dashing hopes of a fall to 2.9%

She writes:

We expect CPI inflation to trend lower over the year ahead, although it may be a slow creep. Indeed, we are pencilling in a steady 3.0% in January.

We expect this to be more than offset by drags from elsewhere in the wider transport category, given that the rise in petrol prices looks set to be notably less than in January 2017. Another negative influence is the food price category.

8.17am GMT

Britain’s stock market is gaining a little ground in early trading.

Demand remains strong for the Western Mediterranean and Caribbean (despite hurricane disruption and reflecting demand from North America) and continues to improve for Turkey and North Africa.

Source: FS – All – Economy – News 2
Stock market recovery continues ahead of UK inflation data – business live