Swiss August PPI up 0.4 pct from July, as expected

Swiss producer and import prices rose 0.4 pct in August from July and were up 3.1 pct year-on-year, on the back of higher import prices linked to higher prices for crude oil and metal products, the statistics office said.
The monthly rise matched expectations of a rise between 0.3-0.4 pct from 0.2 pct in July, while the annual figure rose to 3.1 pct compared to a 2.9 pct rise a month earlier, an inch above an expected rise to 3.0 pct.
Import prices rose 0.8 pct from July and were up 4.1 pct from a year earlier, while producer prices rose 0.2 pct on the month and were up 2.6 pct from a year earlier.
Price declines in crude oil and crude oil products seen in mid-August and early September will be reflected in the September index, the office said.