European stocks are expected to open lower on Wednesday as market participants await the next key reading of U.S. inflation data.
Investors are awaiting the release of the latest U.S. consumer price index, a key inflation reading, on Wednesday. The consumer price index is also expected to show a 0.6% jump compared to the prior month, or a year-over-year gain of nearly 6%, which would be the most in 30 years.
Economists expect core CPI, which excludes food and energy and is the Federal Reserve's preferred measure of inflation, to have risen 0.4%, or 4.3% year-over-year.came in as expected Tuesday, with PPI rising 0.6% month-on-month, in line with estimates. Wholesale prices jumped 8.6% in October from a year ago, however, the hottest annual pace on record in almost 11 years.
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