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European Economics Preview: UK Consumer Price Data Due

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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 is set to publish UK consumer and producer prices for December. Inflation is seen rising to 0.5 percent from 0.3 percent in November.

UK factory gate prices are expected to drop 0.6 percent on year in December, after easing 0.8 percent in November. Economists forecast input prices to climb 1 percent following a 0.5 percent drop a month ago.

In the meantime, Destatis releases Germany's producer price figures for December. Economists forecast producer prices to fall 0.3 percent annually after easing 0.5 percent in November.

At 3.00 am ET, consumer price figures are due from Austria.

At 5.00 am ET, Eurostat publishes euro area final consumer price data for December. According to initial estimate, consumer prices dropped 0.3 percent year-on-year, the same as in November.

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