Investing.com - Switzerland's producer price index rose unexpectedly in August, increasing for the first time in five months, official data showed on Thursday.
The Swiss Federal Statistical Office said its producer price index rose by a seasonally adjusted 0.5% in August, confounding expectations for a 0.4% decline.
Swiss producer prices fell by 0.3% in July.
Year-over-year, the producer price index fell at an annualized rate of 0.1% in August, compared to expectations for a 0.7% decline, after dropping at a rate of 1.8% in July.
Following the release of the data, the Swiss franc remained modestly higher against the U.S. dollar, with USD/CHF shedding 0.05% to trade at 0.9367.
The Swiss Federal Statistical Office said its producer price index rose by a seasonally adjusted 0.5% in August, confounding expectations for a 0.4% decline.
Swiss producer prices fell by 0.3% in July.
Year-over-year, the producer price index fell at an annualized rate of 0.1% in August, compared to expectations for a 0.7% decline, after dropping at a rate of 1.8% in July.
Following the release of the data, the Swiss franc remained modestly higher against the U.S. dollar, with USD/CHF shedding 0.05% to trade at 0.9367.