Switzerland's producer and import prices declined at a slower pace for the second consecutive month in July, data released by the statistical office revealed Tuesday. The producer and import price index fell 1.8 percent year-on-year, following a 2.2 percent decline in June. Economists had forecast a 1.7 percent drop. The measure has been falling steadily since May last year. The latest fall is the smallest since July last year, when the decline was 0.6 percent. Month-on-month, the index dropped 0.3 percent in July, same as in the previous month. It was the fourth monthly decline in a row. Economists were looking for a 0.2 percent fall.