Switzerland: Consumer prices fall in November for tenth month running
Consumer prices fell 0.25% in November over the previous month, swinging from the 0.01% rise seen in October. November’s result marked the sharpest fall in prices since April. Looking at the details of the release, prices for housing and energy rose in November, although prices for healthcare dropped after growing in the previous month. Prices for food and non-alcoholic beverages also dropped.
Consumer prices fell 0.7% year-on-year in November, down from October’s 0.6% fall. The annual average variation of consumer prices edged down to minus 0.7% in November (October: -0.6%).
Ongoing deflation will ensure the Swiss National Bank maintains its extremely expansionary monetary policy.