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U.K. PPI input falls 1.6% in July

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Investing.com -

Investing.com - Producer price inflation in the U.K. fell for the second consecutive month in July, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that PPI input declined by a seasonally adjusted 1.6% last month, disappointing expectations for a 1.1% drop. PPI input fell by 0.9% in June.

The report also showed that PPI output dipped by a seasonally adjusted 0.1% in July, missing expectations for an increase of 0.3%, after rising 0.3% in June.

Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.51% to trade at 1.6644, compared to 1.6692 ahead of the data.

Meanwhile, European stock markets remained higher. London's FTSE 100 inched up 0.45%, the DJ Euro Stoxx 50 tacked on 0.35%, France's CAC 40 rose 0.35%, while Germany's DAX advanced 0.9%.

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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.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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