FTSE 100 marks best day of 2023 as US inflation falls to 3%

City traders cheered news that US consumer prices rose by 3% in the year to June, the slowest inflation rate in more than two years, down from 4% in May. Photograph: Gary Yeowell/Getty Images

Britain’s blue-chip share index has posted its biggest one-day jump of 2023 after US inflation slowed by more than expected last month.

The FTSE 100 index gained 133.5 points on Wednesday to 7,416 points, up 1.83%, its best day since November 2022.