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%.
Author: Dirina Mançellari, Senior Economist