Neuchâtel, 15.06.2023
The Producer and Import Price Index fell in May 2023 by 0.3% compared with the previous month, reaching 109.1 points (December 2020 = 100). In particular, petroleum, natural gas and petroleum products saw lower prices. Electricity, on the other hand, became more expensive. Compared with May 2022, the price level of the whole range of domestic and imported products also fell by 0.3%. 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. Essential oils, organic products of the chemical industry, aluminium products and machinery became more expensive. In contrast, prices of petroleum products, scrap, gas, pharmaceutical preparations as well as glass and glass products fell.
The import price index registered lower prices compared with April 2023 in particular for petroleum and natural gas as well as petroleum products. Basic metals and semi-finished metal products, glass and glass products, plastic products, paper and paper products, plastics in primary forms and computers also 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.
Producer price index for selected services
Over a period of several years, the producer price index has gradually been extended to the service sector. The latest results are available at (in German):
https://www.bfs.admin.ch/bfs/en/home/statistics/prices/producer-prices-import-prices/services.html
