Swiss producer prices drop by -2.1% in 2014

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Average annual producer prices in Switzerland declined to -1.1% throughout 2014, marking an overall reduction of 2.1% compared to the previous year, according to the Swiss Federal Statistical Office (FSO).

According to the FSO, the decline was largely driven by the global drop in oil prices petroleum products. Prices for domestically produced goods declined by -0.8% while prices for imported goods decined by -1.8%.

The annual decline of 1.1% in 2014 marks the strongest fall in producer prices since 2009, when annual producer prices fell by -3.9%.

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