The UK Chancellor of the Exchequer is set to present the Spring Statement 2022 to the Parliament on Wednesday.

Chancellor Rishi Sunak is expected to announce measures to help British households to deal with rising cost of living. The Office for Budget Responsibility is set to lift its borrowing forecast for the coming year and to lower its growth projections.

Other statistical reports due for the day are as follows:

At 3.00 am ET, the Office for National Statistics releases UK consumer and producer prices for February. Consumer price inflation is forecast to rise to 5.9 percent from 5.5 percent in January.

Output price inflation is seen at 10.1 percent in February versus 9.9 percent in January. Input price inflation is expected to rise to 13.9 percent from 13.6 percent. In the meantime, consumer confidence survey results are due from Turkey.

At 5.00 am ET, unemployment data is due from Poland. The jobless rate is seen unchanged at 5.5 percent in February.