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Financial News: Swiss Producer & Import Prices Fall 1.1%

Swiss Producer & Import Prices Fall 1.1%

01/19/2024 - 05:17:00 (RTTNews)

(RTTNews) - Switzerland's producer and import prices declined for the eighth successive month in December, data from the Federal Statistical Office showed on Friday.

Producer and import prices dropped 1.1 percent year-on-year in December, following a 1.3 percent fall in the previous month.

The producer price index climbed 0.5 percent annually in December, while import prices registered a notable decrease of 4.4 percent.

On a monthly basis, producer and import prices dropped 0.6 percent in December versus a 0.9 percent decline in November, as expected. This was the sixth straight fall in a row.

The monthly decline was largely attributed to cheaper costs for petroleum products, metals, and semi-finished metal products.

During 2023, the average annual producer and import prices were up 0.2 percent, led by higher costs for electricity and gas.

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