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Switzerland's producer and import prices increased as expected in August, data published by the Federal Statistical Office revealed Thursday.

Producer and import prices advanced 3.4 percent year-on-year in August, in line with expectations.

Month-on-month, producer and import prices remained flat in August. The figure also matched consensus estimate.

Producer prices edged up 0.1 percent monthly and grew 2.2 percent from a year earlier. Import prices showed no variations from July, while it advanced 5.7 percent from August 2017.