RTTNews - The Swiss producer and import price index dropped 3.6% year-on-year in April due to a 7.6% contraction in import prices and a 1.5% decline in producer prices, the Federal Statistical Office said Thursday. The decline in the index was quicker than a 2.8% fall forecast by economists.

According to the statistical office, prices declined mainly due to a sharp drop in prices for petroleum and metal products compared with the previous year.

On a monthly basis, the producer and import price index was down 0.2% in April, while it was expected to rise 0.8%. Producer prices were flat on month, while import prices slid 0.5%.

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