FTSE 100 and European stocks. European stock markets started Wednesday on the back foot amid news that the UK has highest core inflation in G7. In London, the FTSE 100 fell 0.2% a

Inflation in Britain is forecast to average at 6.9% for 2023, the Organisation for Economic Co-operation and Development found.

Inflation in the UK is set to be the highest of any major developed economy this year, the Organisation for Economic Co-operation and Development (OECD) has warned.

The latest update from the Paris-based body sees risks ahead from energy prices, which could leap substantially again ahead of the coming winter, and rising interest rates.

The OECD raised its growth forecast this year to 2.7% from an estimated 2.2% in November and foresaw only a tiny acceleration to 2.9% next year.

The Paris-based OECD said that inflation in Britain will be higher than any of its other members, save for Argentina and Turkey