Switzerland: Consumer prices in July drop at steepest rate on record
August 6, 2015
In July, consumer prices dropped 0.6% over the previous month. The reading contrasted the 0.1% increase seen in the previous month and marked the steepest drop since July 2011. July’s result came on the back of lower prices for clothing and for transport.
In annual terms, consumer prices fell 1.2% in July, which came in below the 1.0% drop seen in June and marked a record low. The reading undershot market expectations which had annual consumer prices dropping 1.1%. As a result, inflation remains well below the Central Bank’s target of 2.0%.
Author: Dirina Mançellari, Senior Economist