Switzerland’s Producer Price Index (PPI) remained unchanged in January 2026 on a month-over-month basis, holding at -0.2% and matching the rate recorded in December 2025. The latest data, updated on 23 February 2026, signal a continuation of mild producer-level deflation in the Swiss economy.
The January reading shows that the pace of price changes at the factory gate has not shifted compared with the previous month. In both December and January, producer prices fell 0.2% versus the respective prior months, underscoring persistent downward pressure on input and wholesale prices. For markets and policymakers, the stable negative PPI print suggests that cost-side inflationary pressures remain subdued at the start of 2026.
On a month-over-month comparison, the “actual” figure for January measures the change against December 2025, while the “previous” figure for December reflects the change versus November 2025. With both months posting the same -0.2% result, the data point to a steady, albeit modest, deflationary environment for Swiss producers.
