Investing.com – U.K. producer price inflation rose more-than-expected in November, official data showed on Monday.
In a report, the U.K. Office for National Statistics said that producer price inflation rose by a seasonally adjusted 0.9% in November, after rising by 2.2% in October, whose figure was revised up from 2.1%.
Analysts had expected producer price inflation to rise by 0.5% in November.
The report said that year-on-year, producer price inflation rose by 9.0% in November, after rising by 8.2% in October. Analysts had expected year-on-year producer price inflation to rise by 8.3% in November.
According to the data, the increase in input costs mainly reflecting price rises in petroleum products, food products, and computer, electrical and optical products.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.36% to hit 1.5743.
Meanwhile, European stock markets were up. The FTSE 100 gained 0.62%, the EURO STOXX 50 was climbed 0.39%, France’s CAC 40 added 0.57%, while Germany's DAX rose 0.19%.
In a report, the U.K. Office for National Statistics said that producer price inflation rose by a seasonally adjusted 0.9% in November, after rising by 2.2% in October, whose figure was revised up from 2.1%.
Analysts had expected producer price inflation to rise by 0.5% in November.
The report said that year-on-year, producer price inflation rose by 9.0% in November, after rising by 8.2% in October. Analysts had expected year-on-year producer price inflation to rise by 8.3% in November.
According to the data, the increase in input costs mainly reflecting price rises in petroleum products, food products, and computer, electrical and optical products.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.36% to hit 1.5743.
Meanwhile, European stock markets were up. The FTSE 100 gained 0.62%, the EURO STOXX 50 was climbed 0.39%, France’s CAC 40 added 0.57%, while Germany's DAX rose 0.19%.