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Swiss Producer and Import Price Index rises in December
Jan 14, 2011, 9:33 GMT
Geneva - Switzerland's Producer and Import Price Index rose in December by 0.3 per cent compared to the previous month, the first such climb since the summer, the Federal Statistical Office (FSO) said Friday.
The move upwards came largely on the back of higher oil prices and beat analysts' expectations.
For the whole year 2010, 'prices remained practically stable in comparison with 2009,' the FSO said, rising by just 0.2 per cent year-on-year.
This was mainly due to higher costs of petroleum, metal products and electricity. However, many other goods dropped compared to the previous year.
The slightly higher movement for the year follows a 3.9 per cent decline in 2009.
'Underlying inflation pressure remains very subdued,' in part owing to the continued appreciation of the Swiss franc, said economist Fabian Heller of Credit Suisse.
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