Investing.com - Producer price inflation in the U.K. inched up in November, confounding expectations for a modest decline, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input increased by a seasonally adjusted 0.1% in November, compared to expectations for a 0.1% decline.
PPI input for October was revised to a 0.1% gain from a previously reported increase of 0.4%.
The report also showed that PPI output fell a seasonally adjusted 0.2% last month, defying expectations for a 0.2% increase, after rising 0.2% in October.
Following the release of that data, the pound was higher against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.6223.
Meanwhile, European stock markets remained broadly higher. London’s FTSE 100 rose 0.35%, the EURO STOXX 50 gained 0.55%, France’s CAC 40 added 0.25%, while Germany's DAX advanced 0.6%.
In a report, the U.K. Office for National Statistics said that PPI input increased by a seasonally adjusted 0.1% in November, compared to expectations for a 0.1% decline.
PPI input for October was revised to a 0.1% gain from a previously reported increase of 0.4%.
The report also showed that PPI output fell a seasonally adjusted 0.2% last month, defying expectations for a 0.2% increase, after rising 0.2% in October.
Following the release of that data, the pound was higher against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.6223.
Meanwhile, European stock markets remained broadly higher. London’s FTSE 100 rose 0.35%, the EURO STOXX 50 gained 0.55%, France’s CAC 40 added 0.25%, while Germany's DAX advanced 0.6%.