EUROPEAN ECONOMIC NEWS PREVIEW: UK INFLATION DATA DUE

Consumer prices and public sector finance from the UK are the top economic news due on Wednesday.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices and public sector finance data. Consumer price inflation is forecast to slow to 8.4 percent in May from 8.7 percent in April. Economists expect output prices to climb 3.6 percent after a 5.4 percent rise in April.

The UK budget deficit is seen narrowing to GBP 14.9 billion in May from GBP 24.7 billion in April.

In the meantime, Europe's new car registrations data is due for May. Registrations had increased 17.2 percent in April.

At 4.00 am ET, industrial production, producer prices and corporate sector wage figures are due. Economists forecast industrial output to fall 3 percent on a yearly basis, slower than April's 6.4 percent decrease.

At 6.00 am ET, the Confederation of British Industry publishes Industrial Trends survey results. The order book balance is seen unchanged at minus 17 percent in June.

News are provided by InstaForex

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