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Switzerland's producer and import prices declined in December, data from the Federal Statistical Office showed on Friday.

The producer and import prices fell 1.7 percent year-on-year in December.

On a monthly basis, producer and import prices edged up 0.1 percent in December.

On an average, producer and import prices declined 1.4 percent in 2019, after a 2.4 percent rise in 2018.

The latest decline was mainly due to lower prices for pharmaceutical products, scrap, mineral oil products, and metals and semi-finished metal products.

The producer prices fell 1.0 percent annually in December and edged up 0.1 percent from the previous month. Likewise, import prices dropped 3.2 percent from last year but rose 0.2 percent on month.