Swiss Producer and Import Price Index in January 2020

Producer and Import Price Index remained stable overall in January 2020

The Producer and Import Price Index remained unchanged in January 2020 compared with the previous month. The index stood at 100.7 points (December 2015 = 100). Petroleum products in particular saw higher prices, while pharmaceutical preparations became cheaper. Compared with January 2019, the price level of the whole range of domestic and imported products fell by 1.0%. These are the results of the Federal Statistical Office (FSO).

In particular, higher prices for scrap, petroleum products and watches were responsible for the growth in the Producer Price Index compared with the previous month. By contrast, meat, gas and electricity became cheaper.

The Import Price Index registered lower prices compared with December 2019, particularly for pharmaceutical preparations. Price decreases were also seen for petroleum and natural gas, non- ferrous metals and products made therefrom, communication equipment and other fabricated metal products. By contrast, price increases were seen in particular for petroleum products. Vegetables and potatoes also became more expensive.

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 from (in German only):

https://www.bfs.admin.ch/bfs/de/home/statistiken/preise/produzentenpreise- importpreise/dienstleistungen.html

www.statistics.admin.ch