Investing.com - Producer price inflation in the U.K. fell unexpectedly in August, declining for the first time in three months, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input dropped by a seasonally adjusted 0.2% in August, confounding expectations for a 0.2% increase.
PPI input rose by 1.2% in August, whose figure was upwardly revised from a previously reported gain of 1.1%.
The report also showed that PPI output inched up by a seasonally adjusted 0.1% last month, below forecasts for a 0.2% gain, after rising 0.2% in July.
Following the release of that data, the pound held on to modest gains against the U.S. dollar, with GBP/USD easing up 0.09% to trade at 1.5913.
Meanwhile, European stock markets remained lower. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 fell 0.45%, France’s CAC 40 inched down 0.45%, while Germany's DAX dipped 0.25%.
In a report, the U.K. Office for National Statistics said that PPI input dropped by a seasonally adjusted 0.2% in August, confounding expectations for a 0.2% increase.
PPI input rose by 1.2% in August, whose figure was upwardly revised from a previously reported gain of 1.1%.
The report also showed that PPI output inched up by a seasonally adjusted 0.1% last month, below forecasts for a 0.2% gain, after rising 0.2% in July.
Following the release of that data, the pound held on to modest gains against the U.S. dollar, with GBP/USD easing up 0.09% to trade at 1.5913.
Meanwhile, European stock markets remained lower. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 fell 0.45%, France’s CAC 40 inched down 0.45%, while Germany's DAX dipped 0.25%.