European shares inched higher on Wednesday, though the upside remained capped as investors awaited guidance from the Federal Reserve on the outlook for interest rates in the world's largest economy in the face of rising inflation.
U.K. consumer price inflation rose to 5.1 percent in November from 4.2 percent in October, official data showed earlier today- standing well above the central bank's 2 percent target.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.