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Financial News: Swiss Producer And Import Prices Fall Most Since

Swiss Producer And Import Prices Fall Most Since 2016

06/15/2020 - 08:20:00 (RTTNews)

(RTTNews) - Switzerland's producer and import prices declined at the fastest pace in over four years in May, the Federal Statistical Office reported Monday.

Producer and import prices fell 4.5 percent year-on-year in May, following a 4.0 percent decline in April.

This was the lowest decline since March 2016, when it was 4.7 percent.

The producer price index fell 2.4 percent annually in May and import prices dropped 8.0 percent.

On a monthly basis, producer and import prices declined 0.5 percent in May, following a 1.3 percent fall in the previous month. Producer prices dropped 0.4 percent and import prices decreased 0.8 percent.

The latest decline was due to lower prices for pharmaceutical and chemical products as well as for petroleum products, the agency said.

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