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Financial News: Swiss Producer And Import Price Inflation At 13-Month

Swiss Producer And Import Price Inflation At 13-Month Low

11/14/2022 - 04:23:00 (RTTNews)

(RTTNews) - Switzerland's producer and import price inflation eased for the fourth successive month in October to the lowest level in just over a year, data from the Federal Statistical Office showed on Monday.

Producer and import prices rose 4.9 percent year-on-year in October, slower than the 5.4 percent increase in September.

Further, this was the weakest rate of increase since September last year, when prices had risen 4.5 percent.

The producer price index climbed 3.4 percent annually in October, and import prices registered a sharp increase of 7.7 percent.

On a monthly basis, producer and import prices showed no variations in October, following a 0.2 percent gain in the prior month.

The monthly increase was driven by higher prices for gas and machinery.

The producer price index edged up 0.1 percent monthly in October, while import prices dropped 0.2 percent.

Data released earlier this month showed that consumer price inflation also eased to 3.0 percent in October from 3.3 percent in September.

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