Switzerland’s producer and import prices dropped by 2.7% year-on-year in February 2026, slipping further from a 2.2% fall in the previous month.
This marked the sharpest decline in producer prices since November 2020, driven by ongoing deflation in producer prices (-2.3% vs -1.5% in January), while import cost remained steady (at -3.5%).
On a monthly basis, producer and import prices fell by 0.3% in February, missing market estimates for no change, following a 0.3% decline in the preceding period.
Prices declined mainly for pharmaceutical products and for chemical products and meat and meat products in the Producer Price Index.
Meanwhile, petroleum products as well as petroleum and natural gas in particular were responsible for the increase in the Import Price Index compared with January 2026.