Switzerland's producer and import prices experienced a continued decline in December, although the rate of decline was the slowest observed in fourteen months, according to data released by the Federal Statistical Office on Monday.
In December, producer and import prices fell by 0.9% year-on-year, following a 1.5% decrease in November. The trend of declining prices has been ongoing since May 2023.
This recent decline was the mildest since October of the previous year, a month when prices had actually increased by the same 0.9%.
Specifically, the producer price index saw a slight annual decrease of 0.1% in December, while import prices registered a more significant drop of 2.6%.
On a monthly basis, there was no change in producer and import prices in December, compared to a 0.6% decrease in November. The stability in monthly figures was largely attributed to higher prices for cocoa and chocolate products.
Throughout 2024, the average annual rate of decline in producer and import prices stood at 1.7%, driven primarily by decreasing prices for pharmaceutical products.
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