Swiss Producer and Import Price Index rose by 0.6% in October

The Producer and Import Price Index rose in October 2021 by 0.6% compared with the previous month, reaching 104.7 points (December 2020 = 100). Petroleum products, petroleum and natural gas as well as metal products in particular showed higher prices. Compared with October 2020, the price level of the whole range of domestic and imported products rose by 5.1 %. These are the results from the Federal Statistical Office (FSO). Swiss Producer and Import Price Index rose by 0.6 % in October.

In particular, higher prices for metal products, petroleum products, gas, watches and machinery were responsible for the growth in the producer price index compared with the previous month. The same applies for aluminium products, wiring and wiring devices, electric motors, generators, transformers and sawmilling products. In contrast, lower prices were seen for scrap, medical and dental instruments and supplies as well as fresh vegetables.

The import price index registered higher prices compared with September 2021, particularly for petroleum and natural gas as well as petroleum products. Aluminium and products made therefrom, metal products, machinery, computers and peripheral equipment, instruments and appliances for measuring and testing also became more expensive. In contrast, steel, communication equipment and pharmaceutical preparations 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.

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