Investing.com - Producer price inflation in the U.K. fell for the fourth consecutive month in September, 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 1.2% in August.
The report also showed that PPI output dipped by a seasonally adjusted 0.1% in September, meeting expectations, after falling 0.1% in August.
GBP/USD was trading at 1.5982 from around 1.6016 ahead of the release of the data, while EUR/GBP was at 0.7938 from 0.7916 earlier.
Meanwhile, European stock markets remained broadly lower. London’sFTSE 100 shed 0.15%, the DJ Euro Stoxx 50 fell 0.25%, France's CAC 40 dipped 0.2%, while Germany's DAX declined 0.1%.