In August, consumer prices remained flat over the preceding month, which was above both the 0.5% drop recorded in July and market expectations of a 0.6% fall. According to the Federal Statistics Institute, lower prices for clothing and footwear offset higher prices for transport and energy. As a result of the monthly reading, consumer prices dropped 0.5% over the same month last year, which nonetheless was above the 0.7% decline recorded in July. The figure, which market the 11th consecutive month of annual deflation currently sits well below the Swiss National Bank's 2.0% inflation target. Annual average variation in consumer prices remained unchanged at July's 0.6%. The Swiss National Bank predicts inflation to average minus 0.5% this year. For 2013, the Bank sees inflation rising to 0.3%.
Switzerland remains in deflation for 11th consecutive month
September 5, 2012
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Switzerland Inflation Chart
Note: Month-on-month changes and annual variation of consumer price index in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
Switzerland Economic News
October 6, 2016
In September, consumer prices increased 0.1% from the previous month, just under market expectations of 0.2%, in a timid rebound from August’s 0.1% decrease.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
October 3, 2016
In September, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 53.2 points, beating August’s 51.0 points.
September 30, 2016
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—edged up from 99.7 points in August to 101.3 points in September.
September 15, 2016
At its 15 September meeting, the Swiss National Bank (SNB) decided to maintain the target range for the three-month Libor at between minus 1.25% and minus 0.25%, which met market expectations.