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Feb 09, 2012 06:15PM GMT
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Swiss PPI rises slightly faster than expected
By Forexpros | Forex News | Feb 15, 2010 10:40AM GMT
Forexpros
Forex Pros - Switzerland's producer and import prices rose slightly faster than expected in January, official data showed on Monday, in a further sign that the threat posed by deflation to the Swiss economy is fading.
The country's Produce Price Index climbed 0.3% in January in comparison to the previous month, Switzerland's Federal Statistical Office said. Economists had only expected the figure to rise by 0.1%.
The country also revised December's figure upward from 0.1% to 0.2%, increasing the significance of January's rise.
The index was 1.3% lower than a year ago, less than the 2.5% decrease in December, the statistics office said.
However, the Swiss franc fell against the U.S. dollar, the yen and the euro in the wake of the data: USD/CHF rose 0.07% to hit 1.0764, EUR/CHF rose 0.05% to hit 1.4669 and CHF/JPY shed 0.04% to hit 83.64.
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