2017 Economic Calendar
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Switzerland : Producer and Import Price Index  
Released On 1/19/2017 3:15:00 AM For Dec, 2016
M/M % change0.1 %0.2 %0.2 %
Y/Y % change-0.6 %0.1 %0.0 %

The combined producer and import price index rose 0.2 percent on the month in December, its fourth increase in a row and enough to raise the annual inflation rate from minus 0.6 percent to 0.0 percent.

However, the latest advance was wholly attributable to rising import costs which were up 0.5 percent versus November. Domestic producer prices were only flat on the month and 0.2 percent below their level a year ago.

Within the PPI basket most components were little changed on the month; the only notable exceptions being transport and petroleum products (both minus 0.9 percent) and waste collection and recycling (2.9 percent). The core PPI was also steady at its mid-quarter level and still some 0.7 percent weaker on the year. The import price basket was more volatile but with the major gains limited to the more erratic categories, the core index actually dipped 0.1 percent on the month to stand 0.3 percent lower on the year.

Consequently, the core headline index also declined 0.1 percent from November while its annual rate slipped from minus 0.5 percent to minus 0.6 percent. Underlying deflationary pressures may be stabilising but total supply prices are unlikely to provide any real boost to CPI inflation for some time yet.

The producer price and import price index focuses on the actual prices of products on the market (transaction price) at the time of the order. The prices of domestic products are taken at the producer or factory level, excluding value added tax and consumption taxes. For imports, prices are collected at the Swiss border, without the value added tax, taxes on consumption and tariffs. Changes in the index provide a guide to inflation from the point of view of the product's producer/manufacturer  Why Investors Care

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