European Economic News Preview: UK Inflation Data Due

Consumer and producer prices from the UK and revised GDP data from the euro area are the top economic news due on Wednesday.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for January. Inflation is seen rising to 4.1 percent from 4.0 percent in December. Output prices are expected to decline 0.5 percent on year, in contrast to the 0.1 percent gain a month ago.

In the meantime, GDP data is due from Norway. The Mainland-Norway is forecast to grow 0.1 percent in the fourth quarter, the same rate as seen in the third quarter.

At 3.30 am ET, flash GDP, foreign trade and household consumption figures are due from the Netherlands.

At 4.00 am ET, Statistics Poland publishes preliminary GDP data for the fourth quarter. The economy is expected to shrink 1.0 percent, reversing the 1.5 percent expansion in the third quarter.

At 4.30 am ET, house price data is due from the UK. House prices are forecast to drop 1.8 percent annually in December after a 2.1 percent fall in November.

At 5.00 am ET, Eurostat is slated to release euro area revised GDP data for the fourth quarter and industrial output for December. The preliminary flash estimate showed that the currency bloc remained flat after falling 0.1 percent in the third quarter.