Switzerland's producer and import prices declined for the eighth successive month in December, data from the Federal Statistical Office showed on Friday.
Producer and import prices dropped 1.1 percent year-on-year in December, following a 1.3 percent fall in the previous month.
The producer price index climbed 0.5 percent annually in December, while import prices registered a notable decrease of 4.4 percent.
On a monthly basis, producer and import prices dropped 0.6 percent in December versus a 0.9 percent decline in November, as expected. This was the sixth straight fall in a row.
The monthly decline was largely attributed to cheaper costs for petroleum products, metals, and semi-finished metal products.
During 2023, the average annual producer and import prices were up 0.2 percent, led by higher costs for electricity and gas.
