Investing.com - Producer price inflation in the U.K. fell unexpectedly in May, declining for the third consecutive month, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input fell by a seasonally adjusted 0.3% in May, compared to expectations for a 0.1% increase.
PPI input tumbled by 2.3% in April.
The report also showed that PPI output was flat last month, confounding expectations for a 0.1% gain, after inching down 0.2% in April.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.24% to trade at 1.5683.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 added 0.4%, the EURO STOXX 50 declined 0.1%, France’s CAC 40 fell 0.2%, while Germany's DAX dipped 0.2%.
In a report, the U.K. Office for National Statistics said that PPI input fell by a seasonally adjusted 0.3% in May, compared to expectations for a 0.1% increase.
PPI input tumbled by 2.3% in April.
The report also showed that PPI output was flat last month, confounding expectations for a 0.1% gain, after inching down 0.2% in April.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.24% to trade at 1.5683.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 added 0.4%, the EURO STOXX 50 declined 0.1%, France’s CAC 40 fell 0.2%, while Germany's DAX dipped 0.2%.