Switzerland’s producer and import prices drop for 19th month

Switzerland’s producer and import prices declined by 1.5% year-on-year in November 2024, slightly improving from the 1.8% drop recorded in October.

Switzerland’s producer and import prices drop for 19th month

This marked the nineteenth consecutive month of decline, with both producer prices (-0.4% vs. -0.5% in October) and import costs (-3.8% vs. -4.4%) continuing to fall. Every month, producer and import prices fell by 0.6%, marking the third consecutive month of decline, following a 0.3% drop in September and defying expectations of a 0.2% increase.

Swiss price decline driven by lower costs in key sectors

The decline was primarily driven by lower costs in key sectors, including pharmaceuticals, petroleum, natural gas, and chemical products. Despite the easing in the annual rate of decline, the ongoing drop in prices reflects continued pressure in Switzerland's production and import sectors.