Switzerland: Consumer prices decline on an annual basis in June
July 2, 2020
Consumer prices were virtually unchanged, increasing 0.02% from the previous month in June, which was below the 0.04% increase recorded in May. Looking at the details of the release, prices for food and non-alcoholic beverages goods gained steam, driving the overall increase. Contrastingly, transportation prices fell at a quicker pace in June compared to the previous month and price pressures for healthcare dropped.
Consumer prices dropped 1.3% year-on-year in June, matching the fall recorded in May and clocking the fifth consecutive month of decline in prices. The annual average variation of consumer prices edged down to minus 0.3% in June (May: -0.1%).
Author: Stephen Vogado, Economist