Switzerland: Consumer prices post greatest drop since January 2016 in May
June 4, 2020
Consumer prices ticked up 0.04% from the previous month in May, swinging from April's 0.36% fall. The rebound was broad-based but led by higher prices for alcoholic beverages and tobacco, housing and energy, healthcare, and transportation. Prices for food and non-alcoholic beverages grew at a more subdued pace.
Consumer prices dropped 1.3% on an annual basis in May, a sharper fall than April’s 1.1% decrease. May's reading was the largest drop in consumer prices since January 2016. Accordingly, the trend pointed down mildly, coming in at minus 0.1% in May (April: 0.0%).
Author: Stephen Vogado, Economist