Switzerland Inflation


Switzerland: Consumer prices in August drop at steepest rate on record

September 4, 2015

In August, consumer prices dropped 0.2% over the previous month. The reading followed the 0.6% decrease seen in July, which had marked the steepest drop since July 2011. August’s result came on the back of lower prices for transport as well as for alcoholic beverages and tobacco.

In annual terms, consumer prices fell 1.4% in August, which came in below the 1.3% drop seen in July and marked the sharpest drop on record. The reading met market expectations. As a result, inflation remains well below the Central Bank’s target of 2.0%.

The Central Bank expects consumer prices to record an annual drop of 1.0% in 2015 and 0.55% in 2016. Panelists polled by FocusEconomics expect consumer prices to fall 1.0% in 2015, which is unchanged from last month’s forecast. For 2016, panelists expect inflation of 0.1%.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation August 2015

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS).

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