Switzerland: Consumer prices in June drop at a softer pace
July 6, 2015
In June, consumer prices increased 0.1% over the previous month. The reading followed the 0.2% increase seen in the previous month. June’s result came on the back of higher prices for alcoholic drinks and tobacco as well as for transport.
In annual terms, consumer prices fell 1.0% in June, which came in above the 1.2% drop seen in May and marked a three-month high. The reading overshot market expectations which had annual consumer prices dropping at the previous month’ rate. As a result, inflation remains well below the Central Bank’s target of 2.0%.
Author: Dirina Mançellari, Senior Economist