"The price level of the whole range of domestic and imported products dropped by 2.2% year on year"
- Swiss Federal Statistical Office
Swiss Producer and Import Price Index declined 0.3% in June from May, due to lower prices for oil and petroleum products, said the Swiss Federal Statistical Office on Friday.
According to the official data, the PPI contracted 2.2% year-on-year in June, which was in line with economists' expectations.
While the PPI for domestically produced goods fell insignificantly by 0.1 %, import prices dropped by 0.8%, which makes up year-on-year decline of 1.2 % and 4.1%, respectively.
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