Switzerland Inflation May 2016


Annual change in consumer prices steady in May

In May, consumer prices increased 0.1% over the previous month, which was below both April’s 0.3% increase and the 0.2% rise the markets had expected. The result, which marked a fourth consecutive increase, came mainly on the back of higher prices for crude oil products, package holidays, food and rent. Conversely, prices for air transportation and furniture fell in May.

In annual terms, consumer prices fell 0.4% in May, which mirrored April’s reading. The annual average variation in consumer prices tallied minus 1.1% in May, which was also in line with April’s result.

The Central Bank projects that prices will drop 0.8% this year before rebounding and increasing 0.1% in 2017. Panelists polled by FocusEconomics expect consumer prices to fall 0.5% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, panelists expect inflation of 0.5%.

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Switzerland Inflation Chart

Switzerland Inflation May 2016 0

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS).

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