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Financial News: Swiss Producer And Import Price Inflation Eases Further

Swiss Producer And Import Price Inflation Eases Further

09/13/2022 - 03:29:00 (RTTNews)

(RTTNews) - Switzerland's producer and import price inflation eased for the second successive month in August, data from the Federal Statistical Office showed on Tuesday.

Producer and import prices rose 5.5 percent year-on-year in August, slower than the 6.3 percent increase in July.

Further, this was the weakest rate of increase since January last year, when prices had grown 5.4 percent.

The producer price index climbed 3.8 percent annually in August, following a 4.1 percent rise in the previous month. Import prices increased 8.9 percent from last year.

On a monthly basis, producer and import prices dropped 0.1 percent in August, linked to lower prices for petroleum products, basic metals and semi-finished metal products.

At the same time, prices for chemical products were more expensive compared to the previous month.

Producer price moved up 0.2 percent monthly in August, while import prices showed a fall of 0.8 percent.

Domestic sale prices gained 7.3 percent yearly in August and rose 0.3 percent from a month ago.

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