European stock markets are poised to begin the day with a mixed outlook as investors await crucial inflation data.

On Friday, the last trading day of August, European markets were expected to have a mixed start, with investors focusing on crucial inflation information from various regions, including the U.S.

In the U.K., the stock market was on track to increase by 36 points, bringing the total to 8,418. In France, the market was expected to rise by seven points, taking the total to 7,648. Italy's market was also predicted to see a higher opening, with an additional 20 points added to the current total of 34,347. On the other hand, Germany's market was forecast to decline by 27 points, bringing the total to 18,880 after closing at a new record high on Thursday.

On Thursday, the Stoxx 600 index in Europe finished with a positive day, with tech stocks driving the gains as investors evaluated Nvidia's latest quarterly earnings report, which was released earlier in the week.

Inflation data for both Europe and the U.S. will be released on Friday.

The preliminary consumer price index figures for August will be released in France, Italy, and the euro zone, following the release of German and Spanish CPI reports on Thursday, which indicated that inflationary pressures in those countries are easing.

In Germany, the preliminary annual headline on an EU-harmonized basis eased more than expected to 2% in August, compared with the forecast of 2.3% and July's 2.6% reading. Meanwhile, Spain's preliminary harmonized inflation came in at 2.4% for August, which was lower than expected and down from the previous month's 2.9% print.

The European Central Bank's data will be closely watched by investors for indications of a possible interest rate cut in September.

Other data points, such as the second-quarter GDP in France and German unemployment figures, will be released on Friday.

The Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, will provide insights on inflation from the U.S. Markets are predicting a September interest rate cut, but the Fed has not yet made a decision.

Despite several days of choppy trading action this week, U.S. futures remained relatively unchanged before important data was released. Meanwhile, Asia-Pacific markets experienced gains on Friday.