Switzerland's producer and import prices continued to decline in August, though at the slowest rate in eight months, according to data released by the Federal Statistical Office on Monday.
In August, producer and import prices fell by 1.2 percent year-on-year, which is a slightly slower decline compared to the 1.7 percent drop observed in June. Prices have been on a downward trajectory since May 2023.
Breaking it down, the producer price index experienced an annual decrease of 0.2 percent in August, while import prices saw a more significant drop of 3.4 percent.
On a monthly basis, producer and import prices increased by 0.2 percent in August, following no change in July and June. Analysts had projected a modest rise of 0.1 percent. This monthly increase was primarily driven by higher prices for pharmaceutical products.
