Producer and Import Price Index rose by 0.7% in August

The Producer and Import Price Index rose; in August 2021 by 0.7% compared with the previous month; reaching 103.9 points (December 2020 = 100). Chemical products and pharmaceutical products in particular saw higher prices. Compared with August 2020; the price level of the whole range of domestic and imported products rose by 4.4%. These are the results from the Federal Statistical Office (FSO).

In particular, higher prices for pharmaceutical products; and for chemical products were responsible for the increase in the producer price index compared with the previous month. Basic metals and semi-finished metal products. products of sawmilling and planing. rubber and plastic products as well as fresh vegetables also became more expensive. In contrast. falling prices were seen for scrap and pork.

The import price index registered higher prices compared with July 2021. particularly for organic products of the chemical industry; plastics in primary forms, petroleum and natural gas; basic metals and semi-finished metal products; timber products as well as for rubber and plastic products. The same applied to other chemical products; paper, paper products and green coffee. Pharmaceutical preparations and petroleum products on the other hand, became cheaper.

The Producer and Applicable prices

The prices of domestic products are surveyed for the domestic market at the first marketing stage. These ex works prices include neither valued added tax nor consumption tax.
For exports, net sales prices are surveyed FOB (free on board) which; pursuant to definition; do not
include valued added tax.
For imports, prices are surveyed at the Swiss border minus valued added. consumption and
customs taxes.
In general, the market prices (transaction prices) for products are surveyed at the time of ordering.
Price reductions (discounts) are deducted. Prices in foreign currencies are converted at the
exchange rate on the first working day of the survey reference period in Swiss francs. The reference
period always covers the period from the 1st to 8th of the survey month. This provision allows the
results for the reference month to be calculated; and published in the course of the subsequent
month.