Investing.com - Producer price inflation in the U.K. fell more-than-expected in November, declining for the fourth consecutive month, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input dropped by a seasonally adjusted 0.7% last month, compared to expectations for a 0.5% decline. PPI input fell by 0.4% in October, whose figure was revised from a previously reported drop of 0.6%.
The report also showed that PPI output inched down by a seasonally adjusted 0.2% in November, compared to forecasts for a 1.2% drop, after falling 0.3% in October.
Following the release of that data, the pound trimmed gains against the U.S. dollar, with GBP/USD rising 0.05% to trade at 1.6306, compared to 1.6329 ahead of the data.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.5%, the EURO STOXX 50 dipped 0.6%, France’s CAC 40 dropped 0.9%, while Germany's DAX slumped 0.4%.
In a report, the U.K. Office for National Statistics said that PPI input dropped by a seasonally adjusted 0.7% last month, compared to expectations for a 0.5% decline. PPI input fell by 0.4% in October, whose figure was revised from a previously reported drop of 0.6%.
The report also showed that PPI output inched down by a seasonally adjusted 0.2% in November, compared to forecasts for a 1.2% drop, after falling 0.3% in October.
Following the release of that data, the pound trimmed gains against the U.S. dollar, with GBP/USD rising 0.05% to trade at 1.6306, compared to 1.6329 ahead of the data.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.5%, the EURO STOXX 50 dipped 0.6%, France’s CAC 40 dropped 0.9%, while Germany's DAX slumped 0.4%.