Investing.com - Producer price inflation in the U.K. unexpectedly declined June, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input fell by a seasonally adjusted 0.8% last month, disappointing expectations for a 0.1% increase. PPI input inched up by 0.3% in May.
The report also showed that PPI output declined by a seasonally adjusted 0.2% in June, missing expectations for an increase of 0.1%, after dipping 0.1% in May.
Following the release of that data, the pound turned higher against the U.S. dollar, with GBP/USD rising 0.31% to trade at 1.7136, compared to 1.7102 ahead of the data.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 inched up 0.1%, the DJ Euro Stoxx 50 shed 0.5%, France’s CAC 40 dipped 0.2%, while Germany''s DAX slumped 0.2%.
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