U.K. PPI input falls 2.4% in December

Investing.com –

Investing.com – Producer price inflation in the U.K. fell for the seventh consecutive month in December, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that PPI input declined by a seasonally adjusted 2.4% last month, worse than expectations for a 0.3% drop.

PPI input fell by 0.7% in November, whose figure was revised from a previously reported drop of 1.0%.

The report also showed that PPI output dipped by a seasonally adjusted 0.3% in December, disappointing expectations for a 0.4% gain, after falling 0.2% in November.

GBP/USD was trading at 1.5099 from around 1.5116 ahead of the release of the data, while EUR/GBP was at 0.7822 from 0.7814 earlier.

Meanwhile, European stock markets remained mildly higher. London’s FTSE 100 tacked on 0.3%, the EURO STOXX 50 picked up 0.1%, France’s CAC 40 advanced 0.15%, while Germany’s DAX rose 0.15%.

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