Investing.com - Producer price inflation in the U.K. rose less-than-expected in July, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 1.1% in July, below expectations for a 1.4% increase.
PPI input rose by 0.2% in June.
The report also showed that PPI output inched up by a seasonally adjusted 0.2% last month, in line with forecasts, after rising 0.1% in June.
Following the release of that data, the pound was little changed against the U.S. dollar, with GBP/USD easing up 0.06% to trade at 1.5472.
Meanwhile, European stock markets remained higher. London’s FTSE 100 rose 0.6%, the EURO STOXX 50 added 0.6%, France’s CAC 40 inched up 0.4%, while Germany's DAX advanced 0.9%.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 1.1% in July, below expectations for a 1.4% increase.
PPI input rose by 0.2% in June.
The report also showed that PPI output inched up by a seasonally adjusted 0.2% last month, in line with forecasts, after rising 0.1% in June.
Following the release of that data, the pound was little changed against the U.S. dollar, with GBP/USD easing up 0.06% to trade at 1.5472.
Meanwhile, European stock markets remained higher. London’s FTSE 100 rose 0.6%, the EURO STOXX 50 added 0.6%, France’s CAC 40 inched up 0.4%, while Germany's DAX advanced 0.9%.