Switzerland Inflation


Switzerland: Consumer prices record fastest annual fall in nearly three years

March 6, 2015

In February, consumer prices fell 0.3% over the previous month. The reading came in slightly above the 0.4% drop reported in January. February’s result came on the back of lower prices for food, non-alcoholic drinks and transport.

In annual terms, consumer prices fell 0.8% in February, which came in below the 0.5% drop observed in January. The reading marked the fastest annual fall in consumer prices since June 2012. The figure was slightly below the 0.6% drop the market had expected. As a result, inflation remains well below the Central Bank’s target of 2.0%.

The Central Bank expects inflation to turn negative in 2015, with consumer prices falling annually on average 0.1%. For 2016, the Bank expects inflation to return to positive territory and rise to 0.3%. Panelists polled by FocusEconomics expect consumer prices to fall 1.0% in 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, panelists expect inflation of 0.2%.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation February 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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