Forexpros – Switzerland’s producer price index dipped unexpectedly in April, declining for the first time in five months, official data showed on Monday.
The Swiss Federal Statistical Office said its producer price index fell by a seasonally adjusted 0.1% in April, defying expectations for a 0.3% gain.
Swiss producer prices rose by an unrevised 0.3% in March.
Year-over-year, the producer price index fell at an annualized rate of 2.3% in April, compared to expectations for a 2.1% decline, after dropping at a rate of 2.0% in March.
Following the release of the data, the Swiss franc remained lower against the U.S. dollar, with USD/CHF gaining 0.23% to trade at 0.9320.
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