Swiss Producer and Import Prices Fall Again in July

Switzerland’s producer and import prices dropped by 2.1% year-on-year in July 2026, the same pace as in the previous month and extending a more than three-year deflationary streak. The latest figure also remained the sharpest annual decline since March, reflecting continued weakness in both domestic and imported prices. Producer prices continued to decline (-2.3% vs -2.7% in June), driven by lower prices mainly for agricultural and forestry products (-5.8%), electricity and gas supply (-6.9%), and water treatment and distribution (-4%). Import prices also declined further (-1.5% vs -0.8%), as costs dropped for mining and quarrying products (-19.5%) and manufacturing products (-0.9%), which more than offset an increase in agricultural products (1.7%). On a monthly basis, producer and import prices fell by 0.1% in July, following a 0.3% decrease in June and marking a third consecutive monthly drop, mainly driven by lower petroleum-related prices.

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