Swiss Producer And Import Price Inflation Slows More Than Expected In August

(RTTNews) - Monday, the Swiss Federal Statistical Office announced that the producer and import price index rose 4% year-on-year in August. The inflation rate sharply slowed from the 4.9% recorded in July. Economists had expected the rate to ease to just 4.6% in August.

The index reading dropped to 112.6 points in August from 113.2 points in July.

The producer and import price inflation rate fell after three straight months of increase that took it from 3.6% in April to 4.9% in July. In June and July, the inflation rate exceeded 4%.

Month-on-month, producer and import prices fell 0.5% in August, reversing a 0.5% rise in July. Prices in domestic market decline 0.7%. Meanwhile, prices of imports dipped 0.2%, which was largely due to lower prices for petroleum, oil products, chemical products and scrap metal.

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Posted in Categories: Economy, Releases, Stocks, Switzerland.

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