Neuchâtel, 14.02.2023
The Producer and Import Price Index rose in January 2023 by 0.7% compared with the previous month, reaching 109.2 points (December 2020 = 100). In particular, petroleum and natural gas as well as electricity saw higher prices. Petroleum products, in contrast, became cheaper. Compared with January 2022, the price level of the whole range of domestic and imported products rose by 3.3 %. These are the results from the Federal Statistical Office (FSO).
In particular, higher prices for electricity were responsible for the increase in the producer price index compared with the previous month. Rising prices were also observed for watches, electronic components and boards, gas, medical and dental instruments and supplies, metal products, instruments and appliances for measuring and testing, as well as for non-ferrous metal products. In contrast, lower prices were seen for steel and orthopaedic and prosthetic devices.
The import price index registered higher prices compared with December 2022, particularly for petroleum and natural gas. Rising prices were also observed for metal products, furniture, electronic components and boards as well as for other non-ferrous metals. In contrast, petroleum products, computers and peripheral equipment, aluminium and products made therefrom, pharmaceutical preparations and orthopaedic and prosthetic devices became cheaper.
Applicable prices
The prices of domestic products are surveyed for the domestic market at the first marketing stage (i.e. ex works). These ex works prices include neither valued added tax nor consumption tax (e.g. on tobacco, alcohol or petroleum products).
For exports, net sales prices are surveyed FOB (free on board) which, pursuant to definition, do not include valued added tax.
For imports, prices are surveyed at the Swiss border minus valued added, consumption and customs taxes.
In general, the market prices (transaction prices) for products are surveyed at the time of ordering. Price reductions (discounts) are deducted. Prices in foreign currencies are converted at the exchange rate on the first working day of the survey reference period in Swiss francs. The reference period always covers the period from the 1st to 8th of the survey month. This provision allows the results for the reference month to be calculated and published in the course of the subsequent month.