In June, consumer prices fell 0.3% over the previous month, which marked the first monthly drop since January. The print was below the flat reading observed in May and was in line with market expectations. Lower prices for fuel as well as for clothing and footwear, due to the start of summer sales, were the main drivers behind the monthly decline. As a result of the monthly drop, consumer prices fell 1.1% over the same month last year, which followed on a 1.0% decline in May. The outturn represents the ninth consecutive month of annual deflation, which is well below the Swiss National Bank's 2.0% inflation target. Annual average variation in consumer prices fell from minus 0.4% in May to minus 0.5% in June. Going forward, inflation is likely to remain mired in negative territory, as a strong Swiss franc lowers the cost of imports. The Swiss National Bank predicts inflation to average minus 0.5% this year. For 2013, the Bank sees inflation rising to 0.3%.
Switzerland records ninth consecutive month of deflation
July 6, 2012
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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.