UPDATE 2-Commodity stocks, inflation worries drag FTSE 100 to over 5-week low

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* Burberry , BT Group slip on lower annual earnings
* Alphawave IP Group slumps in London market debut
* FTSE 100 down 0.6%, FTSE 250 off 0.2%

(Updates with market close)
By Shivani Kumaresan and Devik Jain
May 13 (Reuters) - London's FTSE 100 fell on Thursday,
dragged down by losses in heavyweight commodity stocks and
Burberry Group, while fears of a spike in inflation as the
economy recovers hurt demand for equities.
The blue-chip index .FTSE slipped 0.6% to its lowest level
since April 7.
Miners such as Rio Tinto RIO.L , Anglo American AAL.L ,
and BHP Group BHPB.L and oil majors BP BP.L and Royal Dutch
Shell RDSa.L were among the biggest drags, tracking lower
crude and commodity prices. O/R MET/L
The domestically focussed mid-cap FTSE 250 index .FTMC
declined 0.2%.
Globally, stocks slipped after a shocking rise in U.S.
inflation bludgeoned Wall Street and sent bond yields surging on
worries the Federal Reserve might have to move early on
tightening. MKTS/GLOB
"Inflation fears have been stalking the market all week and
are showing few signs of easing," said Sophie Griffiths, market
analyst, UK & EMEA, at OANDA.
"Whilst some inflation is good for companies and the market,
the latest US consumer price data points to the balance moving
too far in one direction."
After rising 11% this year on reopening optimism, the FTSE
100 has pared some of those gains in the last few sessions on
worries that central banks might tighten their ultra-loose
monetary policies sooner than expected to curb inflation.
Luxury brand Burberry BRBY.L tumbled 4.2% on Thursday
after it reported lower annual sales, hit by store closures and
reduced tourism.
BT Group BT.L , Britain's biggest broadband and mobile
provider, slid 5.9% after it reported lower earnings for the
year to end-March and forecast adjusted revenue to be broadly
flat this year. Canadian computer chip designer Alphawave IP Group's shares
AWE.L tumbled 16.3% in their London market debut. However, cyber security adviser NCC Group NCCG.L gained
14.2% after it proposed to buy the intellectual property
management business of Iron Mountain Inc IRM.N .