Swiss Producer and Import Price Deflation Deepens

Switzerland’s producer and import prices dropped by 0.9% year-on-year in July 2025, slipping further from a 0.7% fall in the previous month. This marked the 27th period of decline and still the sharpest since December 2024, as imports continued to decrease (-2.8% vs -2.8% in June). Additionally, producer prices showed no growth after a 0.3% increase in the prior month. On a monthly basis, producer and import prices went down by 0.2% in July, following a 0.1% loss in the preceding period. The decrease was mainly driven by cheaper prices of watches and medical & dental instruments and supplies. Conversely, petroleum, natural gas and petroleum products saw higher costs.