Investing.com - Producer price inflation in the U.K. fell for the third consecutive month in August, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input declined by a seasonally adjusted 0.6% last month, disappointing expectations for a 0.4% drop. PPI input fell by a downwardly revised 1.7% in July.
The report also showed that PPI output dipped by a seasonally adjusted 0.1% in August, meeting expectations, after falling 0.1% in July.
GBP/USD was trading at 1.6173 from around 1.6170 ahead of the release of the data, while EUR/GBP was at 0.8003 from 0.8004 earlier.
Meanwhile, European stock markets remained broadly lower. London’s FTSE 100 shed 0.3%, the DJ Euro Stoxx 50 fell 0.5%, France's CAC 40 dipped 0.6%, while Germany's DAX declined 0.45%.