Investing.com - Producer price inflation in the U.K. rose in October, 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 0.4% in October, compared to expectations for a 0.1% decline.
PPI input for September was revised to a 0.1% drop from a previously reported decrease of 0.2%.
The report also showed that PPI output rose a seasonally adjusted 0.1% last month, below expectations for a 0.2% increase, after rising 0.5% in September.
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.5897.
Meanwhile, European stock markets remained broadly lower. London’s FTSE 100 fell 0.65%, the EURO STOXX 50 declined 0.55%, France’s CAC 40 shed 0.7%, while Germany's DAX dipped 0.3%.
In a report, the U.K. Office for National Statistics said that PPI input increased by a seasonally adjusted 0.4% in October, compared to expectations for a 0.1% decline.
PPI input for September was revised to a 0.1% drop from a previously reported decrease of 0.2%.
The report also showed that PPI output rose a seasonally adjusted 0.1% last month, below expectations for a 0.2% increase, after rising 0.5% in September.
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.12% to trade at 1.5897.
Meanwhile, European stock markets remained broadly lower. London’s FTSE 100 fell 0.65%, the EURO STOXX 50 declined 0.55%, France’s CAC 40 shed 0.7%, while Germany's DAX dipped 0.3%.