More signs that inflation has peaked emerged today after the Office for National Statistics recorded an annual rate of 10.5% for December.
The figure was in line with expectations and represented a further fall from the four-decade high of 11.1% seen in October. However, economists and the Bank of England will be concerned that core inflation came in slightly higher than expected at 6.3%.
On the corporate front, investors are this morning digesting trading updates from retailers including Burberry, WH Smith and Currys.
