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Swiss Producer and Import Price Index in December 2019: -1.7 percent YoY, +0.1 percent MoM

Summary:
The Producer Price Index (PPI) or officially named “Producer and Import Price Index” describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces its overvaluation. The Swiss PPI values of -6% in 2015 (see below), compared to -3% in Europe or -1% in the U.S., diminished the overvaluation. In 2017, however, producer prices are rising again – in both Europe and Switzerland. See more in Is the Swiss Franc overvalued? 17.01.2020 – The Producer and Import Price Index rose in December 2019 by 0.1% compared with the previous month, reaching 100.7 points

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The Producer Price Index (PPI) or officially named “Producer and Import Price Index” describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces its overvaluation. The Swiss PPI values of -6% in 2015 (see below), compared to -3% in Europe or -1% in the U.S., diminished the overvaluation. In 2017, however, producer prices are rising again – in both Europe and Switzerland. See more in Is the Swiss Franc overvalued?

17.01.2020 – The Producer and Import Price Index rose in December 2019 by 0.1% compared with the previous month, reaching 100.7 points (December 2015 = 100). Compared with December 2018, the price level of the whole range of domestic and imported products fell by 1.7%. The average annualised inflation rate in 2019 was –1.4%. These are some of the findings from the Federal Statistical Office (FSO).

Switzerland Producer Price Index (PPI) YoY, December 2019

(see more posts on Switzerland Producer Price Index, )
Swiss Producer and Import Price Index in December 2019: -1.7 percent YoY, +0.1 percent MoM

Source: investing.com - Click to enlarge

German Text:

Produzenten- und Importpreisindex mit durchschnittlicher Jahresteuerung von -1,4% im Jahr 2019

17.01.2020 – Der Gesamtindex der Produzenten- und Importpreise erhöhte sich im Dezember 2019 gegenüber dem Vormonat um 0,1% und erreichte den Stand von 100,7 Punkten (Dezember 2015 = 100). Im Vergleich zum Dezember 2018 sank das Preisniveau des Gesamtangebots von Inland- und Importprodukten um 1,7%. Die durchschnittliche Jahresteuerung lag im Jahr 2019 bei –1,4%. Dies geht aus den Zahlen des Bundesamts für Statistik (BFS) hervor.

Die durchschnittliche Jahresteuerung 2019 entspricht der Veränderungsrate zwischen dem Jahresmittel 2019 und dem Jahresmittel 2018. Das Jahresmittel berechnet sich als arithmetischer Durchschnittswert der 12 Monatsindizes des Kalenderjahres. Im Jahr 2019 betrug die durchschnittliche Jahresteuerung –1,4%. Der Rückgang ist primär auf tiefere Preise für pharmazeutische Produkte, Schrott, Mineralölprodukte sowie Metalle und Metallhalbzeug zurückzuführen. Während die Preise der inländischen Produzenten um 0,8% sanken, gingen die Importpreise um 2,5% zurück. Im Jahr 2018 hatte die durchschnittliche Jahresteuerung +2,4% betragen, im Jahr 2017 +0,9%.

Für den Anstieg des Produzentenpreisindexes gegenüber dem Vormonat waren vor allem die höheren Preise für Schrott verantwortlich. Im Importpreisindex registrierte man steigende Preise gegenüber dem November 2019 insbesondere für Erdöl und Erdgas. Billiger wurden dagegen Metalle und Metallhalbzeug.

Hauptergebnisse Dezember 2019

Swiss Producer and Import Price Index in December 2019: -1.7 percent YoY, +0.1 percent MoM

- Click to enlarge

Statistische Kennzahlen im Dezember 2019

Swiss Producer and Import Price Index in December 2019: -1.7 percent YoY, +0.1 percent MoM

- Click to enlarge


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George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.

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