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Swiss Producer And Import Prices Fall In April

Switzerland's producer and import prices declined in April mainly due to lower prices for petroleum products, the Federal Statistical Office reported Thursday.

Producer and import prices fell 4 percent in April from the same period last year.

The producer price index slid 2 percent, while import prices logged a sharper drop of 7.8 percent.

On a monthly basis, producer and import prices declined 1.3 percent in April. Producer prices were down 0.6 percent and import prices decreased 2.9 percent.

The 2.9 percent decrease in import prices was driven by petroleum and natural gas prices, machinery, electrical equipment, metal products and pharma.

In a separate communiqué, the statistical office said the unemployment rate declined to 4.5 percent in the first quarter from 4.9 percent in the same period last year.

At the same time, the number of employed grew 1.1 percent in the first quarter.

These indicators reflect the averages for the quarter and are only marginally affected by the Covid-19 crisis, the statistical office said.

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