Switzerland's producer and import prices continued their decline in May, according to data released by the Federal Statistical Office on Thursday.
Compared to the previous year, producer and import prices decreased by 1.8 percent in May, maintaining the same rate of decline as observed in the prior month. This downward trend has been ongoing since May 2023.
Breaking it down, the producer price index fell by 1.3 percent year-over-year in May, while import prices saw a substantial decrease of 2.9 percent.
On a month-to-month basis, producer and import prices dropped by 0.3 percent in May, contrasting with a 0.6 percent increase in the previous month. This marks the first monthly decline in four months.
The monthly decrease was primarily driven by lower prices for pharmaceutical products and mineral oil products.
