INFLATION figures are unlikely to give UK households much festive cheer tomorrow, with forecasts of a slight rise in November.
“Data are expected to show that consumer price inflation edged up further to 2.8 per cent in November after jumping to 2.7 per cent in October from a 34-month low of 2.2 per cent in September,” said Howard Archer of IHS Global Insight, citing rising energy and food prices.
Analysts predict the rate will be pushed above three per cent in the new year.
Other economic news during the week includes Wednesday’s release of the minutes to the rate-setting meeting, which are expected to show just one committee member voted for more quantitative easing this month. Friday’s final estimate of third quarter GDP growth is unlikely to show much revision from the last estimate, which showed GDP bounced back by one per cent quarter-on-quarter in the third quarter. Meanwhile, public borrowing data is expected to show some improvement, with borrowing of around £16bn in November, down from £16.4bn a year ago.
In corporate news, Aggreko will update the market today, while tomorrow brings news from Keller Group and Petrofac. Tomorrow is also judgment day for Comet as administrators hold out for a last-minute bidder.
On Wednesday Sportingbet will hold its annual general meeting and on Thursday Mothercare will meet while Carnival gives full-year results. Friday sees meetings for Skyepharma and Monitise.