Swiss Producer And Import Prices Unexpectedly Fall 0.4%

(RTTNews) - Switzerland's producer and import prices decreased for the first time in three months in May, the Federal Statistical Office reported Monday.

The producer and import price index posted a monthly decrease of 0.4 percent in May, reversing a 0.8 percent increase in April. Meanwhile, prices were expected to rise by 0.4 percent.

The falling trend in May was mainly driven by lower costs for pharmaceutical products, petroleum and natural gas, and electricity. On the other hand, prices for plastic products were costlier compared to last month.

The producer price index declined 2.5 percent, and the import price index edged down 0.2 percent.

On a yearly basis, producer and import prices fell at a slower pace of 1.8 percent in May versus 2.0 percent in April.