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The Swiss producer price inflation dropped more than expected in October on Central Bank's decision to prevent the Swiss franc being too strong. According to a report from Federal Statistical Office, the benchmark slid to a seasonally adjusted -0.1%, instead of forecast 0.2%, down from 0.3% the prior month. Compared with last year's October, producer and import prices added 0.4%, exceeding the rally of 0.2% in September.
"There's still no inflationary pressure and on the other hand, the deflationary effect we saw through lower import prices has also disappeared after the introduction of the 1.20 floor," said Maxime Botteron, Credit Suisse economist