Investing.com - Switzerland's producer price index was flat in January, confounding expectations for a modest decline, official data showed on Thursday.
The Swiss Federal Statistical Office said its producer price index was unchanged last month, compared to expectations for a 0.1% drop. Swiss PPI was flat in December as well.
Year-over-year, the producer price index fell at an annualized rate of 0.3% in January, compared to analyst expectations for a 0.4% decline, after dropping 0.4% in December.
Following the release of the data, the Swiss franc was higher against the U.S. dollar, with USD/CHF shedding 0.4% to trade at 0.8970.