Swiss Producer and Import Price index remained stable overall in October 2020

The Producer and Import Price Index remained unchanged in October 2020 compared with the previous month. The index stood at 98.0 points (December 2015 = 100). Higher prices were notably seen for machinery and watches, while petroleum products as well as petroleum and natural gas became cheaper. Compared with October 2019, the price level of the whole range of domestic and imported products fell by 2.9 %. These are the results of the Federal Statistical Office (FSO).

In particular, higher prices for watches and machinery were responsible for the growth in the producer price indexcompared with the previous month. By contrast, gas became cheaper.The import price index registered lower prices compared with September 2020 for petroleum products, petroleum and natural gas. On the other hand, price increases were seen in particular for machinery. Vegetables, potatoes, metal products and steel also became more expensive.

Quality of resultsThe current pandemic affects all of society and the entire economy. In this difficult context, the Federal Statistical Office (FSO) must continue to provide public opinion, particularly the country’s decision makers and media, with reliable figures.

We would like to take this opportunity to sincerely thank our partners who also do their utmost to transmit their data to us under difficult conditions.In October 2020, it was possible to collect all prices according to the survey plan. The quality of the pricecollectionfor the Producer and Import Price Index meets the usual standards.

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 theexchange 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 only):

https://www.bfs.admin.ch/bfs/en/home/statistics/prices/producer-prices-import-prices/services.html

www.bfs.admin.ch 

Graphs