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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.<\/p>\n
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. <\/p>\n
This was the highest annual inflation rate in the National Statistic data series, which began in January 1997.<\/p>\n
Another report from the statistical office showed that factory gate price inflation slowed marginally in December.<\/p>\n
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.<\/p>\n
The benchmark FTSE 100 was marginally higher at 7,565 after closing 0.6 percent lower in the previous session. <\/p>\n
WH Smith jumped nearly 6 percent. The retail company said it expected a resumption in the recovery of its travel markets<\/span> over the coming months.<\/p>\n Medical technology<\/span> business<\/span> Smith+Nephew rose over 1 percent after acquiring cementless unicompartmental knee system developer Engage Surgical for up to $135 million.<\/p>\n Centamin fell 2.6 percent after it reported gold production and costs in line with expectations for 2021.<\/p>\n Luxury brand Burberry soared 5.7 percent after upgrading its full-year forecasts. <\/p>\n<\/p>\n<\/div><\/div>\n