Switzerland: Consumer prices fall at sharper rate in March
Consumer prices rose 0.1% over the prior month in March, matching February’s rise. A sharp drop in prices of transport; recreation and culture; and healthcare underpinned the headline reading. Moreover, prices for food and non-alcoholic beverages also trended lower in the month.
Conversely, consumer prices fell 0.5% year-on-year in March, down from the 0.1% decline in February. Likewise, core consumer prices fell 0.1% in March, contrasting February’s 0.1% rise. Meanwhile, average inflation edged down to 0.2% in March from 0.3% in February.
Looking ahead, deflationary pressures are likely to intensify given the strong franc, cheap global oil prices and declining domestic demand.