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%.
Author: Dirina Mançellari, Senior Economist