Switzerland’s Producer Price Index (PPI) turned negative in May 2026, signaling a retreat in upstream price pressures after recent gains. Month-over-month, the PPI fell by 0.4% in May, a sharp reversal from April 2026, when producer prices had risen by 0.8%.
The data, updated on 15 June 2026, show that the May reading breaks the upward momentum seen in April and indicates a cooling in cost pressures at the producer level. On a month-over-month basis, the “actual” figure for May compares the change in prices to April 2026, while the “previous” April reading reflects the change relative to March 2026.
The shift from positive to negative territory in May could ease some concerns about pipeline inflation, as lower producer prices often translate into reduced pressure on consumer prices in subsequent periods. Market participants and policymakers will now watch upcoming data to see whether May’s decline marks the start of a broader downtrend in production costs or a temporary correction following April’s strong increase.
