Switzerland Inflation


Switzerland: Consumer prices in May record fastest annual fall on record

June 9, 2015

In May, consumer prices increased 0.2% over the previous month. The reading contrasted the 0.2% decrease reported in the previous month. May’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 1.2% in May, which came in below the 1.1% drop observed in the previous month. The reading marked the fastest annual fall in consumer prices on record and 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 May 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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