Investing.com - Producer price inflation in the U.K. rose more-than-expected in January, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 1.3% in January, compared to expectations for a 0.9% increase.
PPI input for December was revised to a flat reading from a previously reported 0.2% decline.
The report also showed that PPI output inched up a seasonally adjusted 0.2% last month, in line with expectations, after falling 0.1% in December.
Following the release of that data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.37% to trade at 1.5600.
Meanwhile, European stock markets were mixed. London’s FTSE 100 rose 0.3%, the EURO STOXX 50 added 0.1%, France’s CAC 40 eased up 0.1%, while Germany's DAX dipped 0.1%.
In a report, the U.K. Office for National Statistics said that PPI input rose by a seasonally adjusted 1.3% in January, compared to expectations for a 0.9% increase.
PPI input for December was revised to a flat reading from a previously reported 0.2% decline.
The report also showed that PPI output inched up a seasonally adjusted 0.2% last month, in line with expectations, after falling 0.1% in December.
Following the release of that data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.37% to trade at 1.5600.
Meanwhile, European stock markets were mixed. London’s FTSE 100 rose 0.3%, the EURO STOXX 50 added 0.1%, France’s CAC 40 eased up 0.1%, while Germany's DAX dipped 0.1%.