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Switzerland PPI declines more-than-expected in July

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Forexpros - Switzerland's producer price index fell more-than-expected in July, official data showed on Monday.

The Swiss Federal Statistical Office said its producer price index dipped by a seasonally adjusted 0.7% in July, after declining by 0.5% in June.

Analysts had expected Swiss PPI to ease by 0.6% in July.

Year-over-year, the producer price index fell at an annualized rate of 0.6% in July, broadly in line with market expectations, following a 0.4% decline in the previous month.

Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF soaring 2.37% to trade at 0.7963.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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