Investing.com - Producer price inflation in the U.K. rose unexpectedly in June, increasing for the first time in four months, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 0.2% in June, confounding expectations for a 0.2% decline.
PPI input fell by a downwardly revised 0.6% in May.
The report also showed that PPI output was flat last month, compared to expectations for a 0.1% gain, after holding steady in May.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.3% to trade at 1.5055.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.1%, the EURO STOXX 50 declined 0.4%, France’s CAC 40 shed 0.5%, while Germany's DAX dipped 0.4%.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 0.2% in June, confounding expectations for a 0.2% decline.
PPI input fell by a downwardly revised 0.6% in May.
The report also showed that PPI output was flat last month, compared to expectations for a 0.1% gain, after holding steady in May.
Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.3% to trade at 1.5055.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.1%, the EURO STOXX 50 declined 0.4%, France’s CAC 40 shed 0.5%, while Germany's DAX dipped 0.4%.