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- Swiss producer and import price index increase by 0.5% in June
Swiss producer and import price index increase by 0.5% in June
According to the report from Federal Statistical Office, the Producer and Import Price Index rose in June 2020 by 0.5% compared with the previous month, reaching 98.1 points (December 2015 = 100). Economists had expected a 0.3% increase. The rise is due in particular to higher prices for petroleum products as well as petroleum and natural gas. Compared with June 2019, the price level of the whole range of domestic and imported products fell by 3.5%.
The Producer Price index registered higher prices compared with the previous month, particularly for petroleum products. Cattle for meat also became more expensive. In contrast, decreasing prices were observed for scrap.
Petroleum products, petroleum and natural gas were responsible in particular for the increase in the Import Price index compared with May 2020. Higher prices were also seen for non-ferrous metals and products made therefrom as well as for passenger cars. In contrast, fresh vegetables, wine and steel became cheaper.
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