Swiss Producer and Import Prices Index February 2016: 0.6 percent MoM, 4.6 percent YoY

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Swiss Statistics
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Download this press release  (pdf, 130 KB)  (exists only in German, French or Italian)

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George Dorgan
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Important data

The press release from the statistics office is really crap, while the data is certainly important.

It is important for two reasons:
The producer and import price index is used to revalue the real effective exchange rate.
It is the second release that shows y/y data for end of the EUR/CHF peg. This data serves to recalculate the CHF “overvaluation” based on producer prices.

Total

The key data is here the french version (easier readable for English speakers).

Total down 4.6% y/y
Producer Prices (origin Switzerland)  down 3.5% y/y
Import Prices down 6.9% y/y

Prices for export are down 4.4%, while when goods are sold in Switzerland, then they fell only by 2.5%

Producer Prices

• Total (100% of producer price basket) down by 3.5% y/y
• Major categories
  • Prices of chemicals and pharmaceuticals (25.6% of the producer basket) are down 6.3% y/y. Especially the former profit on falling oil prices.
  • Prices of IT and eclectronics (15.4% of basket) fell by 2% compared to one year ago.
  • Prices of food (10.6% of basket) are down 0.7%
  • Machines (10.2% of basket) are cheaper by 3.6%.

Import Prices

• Total (100% of import price basket) down by 6.9% y/y
• Major categories
  • Prices of chemicals and pharmaceuticals  (25.6% of the import basket) down 5.6% y/y.
  • Prices of automobiles (10.2% of basket) are lower by 6.1% compared to one year ago.
  • IT and electionics (9.6% of basket) are cheaper by 6.3% y/y.
  • Food (7.2% of the basket) are cheaper by 6.5%.
  • Prices of Petroleum products  (4.3%) fell by 26.6%.

About 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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