2017 Economic Calendar
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Switzerland : Producer and Import Price Index  
Released On 3/15/2017 4:15:00 AM For Feb, 2017
PriorConsensusActual
M/M % change0.4 %0.4 %-0.2 %
Y/Y % change0.8 %1.8 %1.3 %

Highlights
The combined producer and import price index was weak in February. A 0.2 percent monthly decline was the first fall since last August but positive base effects still saw the annual inflation rate climb 0.5 percentage points to 1.3 percent, a multi-year high.

The monthly headline decline was wholly due to domestic producer prices and the PPI was off 0.4 percent versus January. Import prices actually increased 0.1 percent.

Within the PPI, the main downward pressure on the month came from waste and recycling (minus 8.8 percent) and petroleum products (minus 5.7 percent). There were hardly any significant component rises. Import prices were similarly dragged lower by weakness in petroleum products (minus 3.2 percent) but intermediates and agriculture (both 0.8 percent) made decent ground.

As a result, the core composite index recorded a 0.1 percent monthly drop which was small enough to raise the annual underlying inflation rate from minus 0.6 percent to minus 0.2 percent. The bottom line is that deflation risks in Swiss manufacturing may be fading but they remain an issue. These should diminish if the economy performs as well as the PMI surveys have intimated so far this year but the SNB will certainly want to maintain its lid on the CHF.

Definition
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
 
 

2017 Release Schedule
Released On: 1/192/143/154/135/156/157/138/159/1310/1311/1412/14
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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