Switzerland’s Producer and Import Price Index: August 2023 Sees 0.2% Drop, 0.8% Year-on-Year Decrease

September 20, 2023

The Producer and Import Price Index in Switzerland fell in August 2023 by 0.2% compared with the previous month, reaching 108.7 points (December 2020 = 100). Pharmaceutical and chemical products in particular saw lower prices. In contrast, petroleum products as well as petroleum and natural gas saw higher prices. Compared with August 2022, the price level of the whole range of domestic and imported products fell by 0.8%. These are the results from the Federal Statistical Office (FSO).

The producer price index registered falling prices compared with the previous month, particularly for pharmaceutical products. Electricity (for large consumers), basic metals and semi-finished metal products, paper and paper products, plastics in primary forms, plastic products, timber products, scrap and organic products of the chemical industry also became cheaper. In contrast, higher prices were seen for petroleum products as well as for dyes and pigments.

Higher prices for petroleum products as well as for petroleum and natural gas were responsible in particular for the increase in the import price index compared with July 2023. Increasing prices were also seen for pharmaceutical preparations and computers. In contrast, price declines were observed for chemical products, basic pharmaceutical products, rubber and plastic products, basic metals and semi-finished metal products, paper and paper products, glass and glass products and timber products.

Source: Federal Statistical Office (FSO)
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