2023.02.1504:40:00UTC+00European Economic News Preview: UK Inflation Data Due

Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for January. Consumer price inflation is forecast to ease to 10.3 percent from 10.5 percent in December.

Economists forecast UK output prices to grow 13.3 percent in January from the last year, slower than the 14.7 percent increase in December. Likewise, input price inflation is seen easing to 14.7 percent from 16.5 percent.

At 3.00 am ET, Spain's INE publishes final consumer and harmonized prices for January. Inflation is forecast to rise slightly to 5.8 percent, as initially estimated, from 5.7 percent in December.

At 5.00 am ET, Eurostat publishes euro area industrial production and foreign trade figures. Industrial output is expected to fall 0.8 percent on month, reversing November's 1.0 percent increase. The trade deficit is seen widening to EUR 12.5 billion in December from EUR 11.7 billion in November.