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Rising energy costs fuel increase in producer/import prices

Rising fuel costs push up producer/import price index


Higher energy prices drove the combined index for Swiss producer and import prices higher by 0.7 per cent in September. The increase means prices are up by 2.8 per cent year-on-year.

The figures, released by the Federal Statistics Office on Monday, underline the rising price pressures facing the Swiss economy. The combined index was unchanged on a monthly basis in August.

The Federal Statistics Office said higher heating oil and fuel prices accounted for around half of the year-on-year rise in import prices.

The latest figures also point to increasing pressure on the consumer price index as companies pass on higher prices to customers.

Swiss consumer prices rose 2.3 per cent in the year to September - the highest yearly rate seen since December 1993. In August, inflation was running at just 1.3 per cent.

The rise in consumer prices in September was attributed almost entirely to the increase in oil and fuel costs over the past month.

swissinfo with agencies

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