Investing.com - Producer price inflation in the U.K. fell significantly more-than-expected in April, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input tumbled by a seasonally adjusted 2.3% in April, worse than expectations for a 1.1% decline.
PPI input rose by 0.1% in March.
The report also showed that PPI output fell by a seasonally adjusted 0.1% last month, confounding expectations for a 0.2% gain, after inching up 0.2% in March.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.42% to trade at 1.5194.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 added 0.2%, the EURO STOXX 50 declined 0.2%, France’s CAC 40 fell 0.2%, while Germany's DAX dipped 0.1%.
In a report, the U.K. Office for National Statistics said that PPI input tumbled by a seasonally adjusted 2.3% in April, worse than expectations for a 1.1% decline.
PPI input rose by 0.1% in March.
The report also showed that PPI output fell by a seasonally adjusted 0.1% last month, confounding expectations for a 0.2% gain, after inching up 0.2% in March.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.42% to trade at 1.5194.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 added 0.2%, the EURO STOXX 50 declined 0.2%, France’s CAC 40 fell 0.2%, while Germany's DAX dipped 0.1%.