Investing.com - Producer price inflation in the U.K. rose for the first time in nine months in February, amid ongoing concerns over the threat of deflation, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said that PPI input inched up by a seasonally adjusted 0.2% last month, below expectations for a gain of 1.6%.
PPI input fell by 3.6% in January, whose figure was revised from a previously reported drop of 3.7%.
The report also showed that PPI output increased by a seasonally adjusted 0.2% in February, compared to expectations for a 0.1% decline, after falling 0.4% in January.
GBP/USD was trading at 1.4933 from around 1.4947 ahead of the release of the data, while EUR/GBP was at 0.7355 from 0.7349 earlier.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 dipped 0.1%, the EURO STOXX 50 rose 0.1%, France's CAC 40 tacked on 0.15%, while Germany's DAX inched up 0.15%.