Swiss producer and import price Index fell sharply in March

According to the report from Federal Statistical Office (FSO), the Producer and Import Price Index fell in March 2020 by 0.3% compared with the previous month, reaching 99.4 points (December 2015 = 100). This decline is due in particular to lower prices for petroleum products. Compared with March 2019, the price level of the whole range of domestic and imported products fell by 2.7%.

In particular, lower prices for petroleum products were responsible for the decrease in the Producer Price Index compared with the previous month. Food products as well as motor vehicles and motor vehicle parts were cheaper. In contrast, increasing prices were observed for scrap.

The Import Price Index also registered lower prices compared with February 2020, particularly for petroleum products. Price decreases were also seen for petroleum and natural gas, wearing apparel, basic metals and semi-finished metal products, food products, textiles, other transport equipment, other parts and accessories for motor vehicles as well as leather and travel goods. In contrast, pome and stone fruits were more expensive.