The producer and import price index fell by 0.3% in October.

Here is a summary of the main information provided by the Federal Statistical Office (FSO) in its publication of November 15, 2024, entitled “The producer and import price index fell by 0.3% in October .” This report highlights the variations in producer and import prices in Switzerland for the month of October 2024.

Fall in the price index

In October 2024, the producer and import price index decreased by 0.3% compared to September, standing at 106.9 points (December 2020 base = 100). Compared to October 2023, this index showed a decrease of 1.8%. This decline is mainly due to significant price drops in sectors such as watches, petroleum products and machinery.

Sectoral price variations

In detail, the report highlights a notable drop in the prices of watches, machinery, and petroleum products in the producer price index. In contrast, the prices of electrical wires and cables as well as electrical installation materials have increased.

Imports affected

Concerning the import price index, a decrease in the prices of petroleum products and machinery was observed, generally influencing the index downwards. On the other hand, certain imported products such as hydrocarbons, certain metals and agricultural products saw their prices increase, marking exceptions in this general downward trend.

Source : The producer and import price index fell by 0.3% in October | Press release

Photo credit: LordHenriVoton via iStock