Switzerland's producer and import prices dropped unexpectedly in May due to lower prices for crude oil and petroleum products, data from the Federal Statistical Office revealed Thursday.
Producer and import prices fell 0.3 percent month-on-month in May, while it was forecast to remain flat.
On a yearly basis, producer and import prices slipped 0.2 percent, confounding expectations for a 0.1 percent rise.
Producer prices slipped 0.3 percent in May on both monthly and annual basis. At the same time, import prices dropped 0.4 percent from the prior month, taking the annual decrease to 1.2 percent.
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