Financial News: Swiss Producer And Import Prices Fall 1.7%

Swiss Producer And Import Prices Fall 1.7%

08/15/2024 - 06:03:00 (RTTNews)

(RTTNews) - Switzerland's producer and import prices continued to decline as expected in July, data from the Federal Statistical Office showed on Thursday.

Producer and import prices dropped 1.7 percent year-on-year in July, slightly slower than the 1.9 percent decline in June. Prices have been falling since May 2023.

The producer price index dropped 1.2 percent annually in July, and import prices registered a decrease of 2.7 percent.

On a monthly basis, producer and import prices remained flat for the second straight month in July, versus an expected increase of 0.2 percent.

Falling prices for watches were recorded in the producer price index compared with the previous month, the agency said. Meanwhile, prices rose for petroleum products, electronic components, and boards, as well as for instruments and appliances for measuring and testing.

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