2017 Economic Calendar
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Switzerland : Producer and Import Price Index  
Released On 5/15/2017 3:15:00 AM For Apr, 2017
M/M % change0.1 %0.0 %-0.2 %
Y/Y % change1.3 %1.0 %0.8 %

The combined producer and import price index fell for the second time in three months in April. A 0.2 percent dip versus March reduced the annual inflation rate by a sizeable 0.5 percentage points to 0.8 percent to equal a 4-month low.

The monthly headline decline was led by import prices which were down 0.4 percent. Domestic producer prices were only 0.1 percent weaker. Petrol and machinery were largely responsible, sliding 4.6 percent and 0.9 percent respectively in the import price basket and 3.0 percent and 0.5 percent in the PPI. There were no increases of any real significance. This left the core composite index 0.1 percent lower on the month and 0.4 percent short of its level a year ago after a 0.2 percent annual decline last time.

Underlying total supply prices remain very subdued and have essentially just trended sideways since the start of 2017. This will not help the SNB's chances of getting CPI inflation anywhere near the 2 percent mark any time soon.

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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