2023.03.1412:37:00UTC+00Swiss Producer And Import Price Inflation At 22-Month Low

Switzerland's producer and import price inflation eased further in February to the lowest level in nearly two years, data from the Federal Statistical Office showed on Tuesday.

Producer and import prices rose 2.7 percent year-on-year in February, slower than the 3.3 percent increase in the previous month.

Further, this was the weakest rate of increase since April 2021, when prices had risen 1.8 percent.

The producer price index climbed 3.0 percent annually in February, and import prices registered an increase of 2.3 percent.

On a monthly basis, producer and import prices dropped 0.2 percent from January, when they rose by 0.7 percent.

The monthly decline was mainly attributed to lower prices for petroleum and natural gas as well as petroleum products, the agency said.

Data released last week showed that Switzerland's consumer price inflation accelerated slightly to a 6-month high of 3.4 percent in February.