BUSINESS LIVE: Inflation rises to 4%; BP confirms Auchincloss as CEO; GSK sells stake in Haleon

Economy
By Liam

Through live commentary

Updated:

Consumer price inflation rose for the first time in ten months in December, from 3.9 to 4 percent, new data from the Office for National Statistics shows. The rise was a shock compared to forecasts that interest rates would fall to 3.8 percent and will give the Bank of England pause as it considers rate cuts this year.

The FTSE 100 closed 112.05 points lower at 7446.29. Companies with reports and trading updates today include BP, GSK, Haleon, 888, Mulberry, Pearson and Wizz Air. Read the Business Live blog from Wednesday, January 17 below.

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