U.K. PPI input falls 0.2% in December
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Investing.com - Producer price inflation in the U.K. fell more-than-expected in December, dropping for the first time in three months, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input declined by a seasonally adjusted 0.2% in December, compared to expectations for a 0.1% decline.
PPI input rose by 0.1% in November.
The report also showed that PPI output fell a seasonally adjusted 0.1% last month, defying expectations for a flat reading after dropping 0.3% in November.
Following the release of that data, the pound was trimmed gains to trade little changed against the U.S. dollar, with GBP/USD adding 0.02% to trade at 1.6082.
Meanwhile, European stock markets were mixed. London's FTSE 100 rose 0.1%, the EURO STOXX 50 shed 0.3%, France's CAC 40 was flat, while Germany's DAX dipped 0.1%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
