FTSE 100 Live 18 December: Inflation rate up to 2.6%, Dow Jones extends losing streak
Share:
The UK’s annual rate of inflation has increased in line with expectations to 2.6%, the highest level since the reading of 3.2% in March. The figure for November compared with the 2.3% reported the previous month. The change reflected upward effects from motor fuels and second-hand cars, partially offset by a downward effect from air fares.
Bank of England policymakers are seen keeping interest rates at 4.75% when they conclude their two-day meeting tomorrow. Read more here. The FTSE 100 index is set to break its losing streak after futures trading pointed to a rise of 12 points to 8207 at the opening bell. It fell 0.8% yesterday.
The improvement follows a stronger performance for Asia markets, with the Hang Seng index up 0.8% on hopes of support for China’s economy in 2025. US markets weakened ahead of today’s Federal Reserve decision, when policymakers are expected to make another quarter point cut in interest rates.
The Dow Jones Industrial Average fell by 0.6%, marking its longest losing streak in 46 years. The S&P 500 index and Nasdaq Composite also fell, having fared better in recent sessions. The pound stood at $1.271 prior to today’s release of UK inflation figures.
