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Inflation of producer and import price in Switzerland declined in the last month of 2012, beat the expectation of economists though, when it fell to 1.0% in December from a November's 1.2%, the Federal Statistical Office reported on Thursday. On a monthly basis, the producer and import prices index recorded a modest gain of 0.1% following an unchanged November.
"Should the risk of an economic drop increase—because of a strong fall in foreign demand and the strong franc—then there is a serious risk for a deflationary development given already falling consumer prices," said the SNB board member Jean-Pierre Danthine.