Switzerland’s producer and import prices fell by 0.7% year-on-year in August 2026, following a 2.1% decline in July and marking the mildest bout of deflation since June 2025. Producer prices dropped 1.3%, easing from a 2.3% fall in the previous month, as price declines moderated across several categories: agricultural and forestry products (-3.5% vs. -5.8%), manufactured products (-1.1% vs. -2.1%), and water treatment and distribution, waste collection, and recovery (-2.3% vs. -4.0%).
In contrast, import prices rose 0.8% year-on-year, rebounding from a 1.5% decline in July. This upturn was supported by a recovery in manufactured products (1.2% vs. -0.9%) and an acceleration in agricultural product prices (5.7% vs. 1.7%).
On a monthly basis, combined producer and import prices increased by 0.7% in August, reversing the 0.1% decline recorded in July. The month-on-month recovery was driven primarily by higher prices for petroleum products and pharmaceutical preparations, as well as for slaughter pigs, pork, raw milk, rubber and plastic products, and primary-form plastics.
