Producer and import prices in Switzerland fell for the seventh month in February as energy costs slipped lower and the global economic slumped worsened. The headline reading showed a 0.6% drop during the month, which was followed by a 0.8% decline in January, while the annual rate of inflation slipped to -1.8% from -0.9% in previous month, which was the lowest reading in at least seven-years. As the outlook for growth and inflation remain bleak, the Swiss National Bank cut its main interest rate close to zero earlier this week to jump-start the economy, and started buying foreign currencies to stem the appreciation in the exchange rate as the recession deepens and the risks for deflation intensify.