Investing.com – Switzerland's producer price index slumped unexpectedly in February, official data showed, in a sign that the country's economic recovery remained fragile.
The Swiss Federal Statistical Office said its Producer and Import Price Index fell 0.3% during the month, from a rise of 0.3% in January.
Economists had expected the figure to come in at 0.2%. The measure is seen as a key indicator of consumer inflation, since manufacturers usually pass on higher costs to consumers.
In a statement, the office said falling prices for imports mainly affected oil products and furniture.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.13% to hit 1.0594.
The Swiss Federal Statistical Office said its Producer and Import Price Index fell 0.3% during the month, from a rise of 0.3% in January.
Economists had expected the figure to come in at 0.2%. The measure is seen as a key indicator of consumer inflation, since manufacturers usually pass on higher costs to consumers.
In a statement, the office said falling prices for imports mainly affected oil products and furniture.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.13% to hit 1.0594.