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Swiss Producer and Import Price Index in January 2021: -2.1 percent YoY, +0.3 percent MoM

The Producer Price Index (PPI) or officially named “Producer and Import Price Index” describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces its overvaluation. The Swiss PPI values of -6% in 2015 (see below), compared to -3% in Europe or -1% in the U.S., diminished the overvaluation. In 2017, however, producer prices are rising again – in both Europe and Switzerland. See more in Is the Swiss Franc overvalued?


23.02.2021 – The Producer and Import Price Index rose in January 2021 by 0.3% compared with the previous month, reaching 100.3 points (December 2020 = 100). The rise is due in particular to higher prices for scrap, petroleum products, as well as for basic metals and semi-finished metal products. Compared with January 2020, the price level of the whole range of domestic and imported products fell by 2.1%. These are the results of the Federal Statistical Office (FSO).

In particular, higher prices for scrap were responsible for the increase in the producer price index compared with the previous month. Petroleum products also became more expensive. In contrast, lower prices were seen for orthopaedic and prosthetic devices.

The import price index registered higher prices compared with December 2020, particularly for petroleum products, petroleum and natural gas, basic iron and steel. The same applied for processed steel, copper and products made therefrom. In contrast, price decreases were seen for communication equipment.

Switzerland Producer Price Index (PPI) YoY, January 2021

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Switzerland Producer Price Index (PPI) YoY, January 2021

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Swiss Statistics
The Swiss Federal Statistics Office publishes information on the situation and developments in Switzerland in a multitude of fields and plays a part in enabling comparisons at an internal level.
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