Switzerland’s producer and import prices fell by 2.0% year-on-year in April 2026, following a 2.7% decline in the previous month, extending the country’s nearly three-year deflationary streak. The drop was driven by continued decline in producer prices, which remained unchanged at -2.4%, reflecting lower costs for manufactured goods (-2.1%), particularly computer, electronic and optical products, as well as watches (-2.4%). Import prices also continued to drop, though at a slower pace (-1.0% vs -3.2% in March), as a sharp increase in mining and quarrying products (+37.9%) partly offset lower prices for agricultural products (-2.2%) and manufactured goods (-1.4%). On a monthly basis, producer and import prices rose 0.8%, accelerating from a 0.2% gain in March, and well above the expected 0.1% increase, mainly driven by higher prices of petroleum products and natural gas. Basic metals and semi-finished metal products likewise recorded price increases.