Switzerland’s Producer Price Index (PPI) remained unchanged in March 2026, recording a year-on-year decline of 2.7%, the same rate as in February 2026. The unchanged figure, updated on 16 April 2026, indicates that producer prices continued to contract at a steady pace compared with a year earlier.
On a year-over-year basis, the “actual” March reading compares the price level in March 2026 to March 2025, while the “previous” figure compares February 2026 to February 2025. The stable -2.7% rate across both months suggests persistent downward pressure on producer prices, with no sign yet of a rebound in input and wholesale cost dynamics at the factory gate.
For markets and policymakers, the continued producer price deflation may be viewed as a signal of subdued cost pressures in the production sector, which can feed through to consumer prices over time. However, without additional data on sectoral breakdowns or monthly changes, the March release primarily confirms that Switzerland’s producer price environment has remained firmly in negative territory on an annual basis.
