Producer Prices in Switzerland
Switzerland - Producer Prices
Inflation comes in at highest level since July 2008 in May
Consumer prices increased 0.65% from the previous month in May, picking up from April's 0.37% increase. The pick-up was largely due to rising prices for food, housing and energy.
Inflation increased to 2.9% in May, above April’s 2.5%. May's result marked the highest inflation rate since July 2008. Annual average inflation ticked up to 1.6% in May (April: 1.4%).
Over the coming quarters, higher commodity prices due to the war in Ukraine will keep inflation relatively elevated by recent Swiss standards at over 2%. However, upward pressures should be somewhat muffled by the country’s limited reliance on fossil fuels for electricity generation, ingrained low inflation expectations and mild wage growth. As such, inflation will stay very mild in the broader European context.
FocusEconomics Consensus Forecast panelists expect consumer prices to rise 2.2% on average in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists pencil in average inflation of 1.1%.
Switzerland - Producer Prices Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation (PPI, annual variation in %) | -3.7 | -1.3 | 0.0 | 1.3 | -0.8 |
Switzerland Producer Prices Chart
Switzerland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.51 | 6.27 % | Jan 01 |
| Exchange Rate | 0.97 | -0.54 % | Jan 01 |
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Economic News
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Switzerland: SNB hikes rates in June in shock move
June 16, 2022
At its meeting on 16 June the Swiss National Bank (SNB) raised its policy rate and the interest rate on sight deposits from minus 0.75%—the world’s lowest—to minus 0.25%.
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Switzerland: Inflation comes in at highest level since July 2008 in May
June 2, 2022
Consumer prices increased 0.65% from the previous month in May, picking up from April's 0.37% increase.
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Switzerland: Manufacturing PMI eases in May; services PMI improves
June 1, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) fell to 60.0 in May from April's 62.5.
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Switzerland: Economic growth accelerates in the first quarter
May 31, 2022
GDP growth accelerated to 0.5% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, from 0.2% in the fourth quarter of last year.
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Switzerland: Retail sales decline in April
May 31, 2022
Retail sales decreased 6.0% year-on-year in calendar-adjusted terms in April (March: -6.6% c.a.
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