FX.co ★ Swiss Producer and Import Prices Fall Again in July

Switzerland’s producer and import prices fell by 2.1% year-on-year in July 2026, matching the pace seen in June and extending a deflationary streak that has lasted for more than three years. This remained the steepest annual decline since March, underscoring persistent weakness in both domestic and imported prices.

Producer prices continued to contract (-2.3% vs. -2.7% in June), largely reflecting lower prices for agricultural and forestry products (-5.8%), electricity and gas supply (-6.9%), and water treatment and distribution (-4.0%). Import prices also weakened further (-1.5% vs. -0.8% in June), as notable price declines for mining and quarrying products (-19.5%) and manufactured goods (-0.9%) more than offset higher prices for agricultural products (+1.7%).

On a monthly basis, the combined index of producer and import prices edged down 0.1% in July, following a 0.3% decline in June and marking the third consecutive monthly decrease, primarily driven by lower petroleum-related prices.