Switzerland: Consumer prices fall over same month last year for the first time since February
September 9, 2014
In September, consumer prices rose 0.1% over the previous month. The mild increase followed the flat reading observed in August and fell short of market expectations of a 0.2% increase. The increase reflected higher prices for clothing and footwear as well as for alcoholic beverages and tobacco.
Consumer prices fell 0.1% in September over the same month last year. The reading contrasted the 0.1% increase observed in August and represented the first annual drop in prices since February 2014.The inflation rate is still well below the Central Bank’s target of 2.0%. Annual average inflation in October remained unchanged at September’s zero rate.
Author: Ricardo Aceves, Senior Economist