Switzerland Inflation July 2020

Switzerland

Switzerland: Consumer prices record smallest fall since March

August 3, 2020

Consumer prices fell 0.16% from the previous month in July, swinging from the 0.02% increase logged in June. July's result marked the sharpest fall in prices since April. The reading was largely due to softer growth in prices for housing and energy, while prices for food and non-alcoholic beverages goods fell in the month.

Consumer prices declined 0.9% on an annual basis in July, a more modest drop than June’s 1.3% fall. July's reading marked the smallest decrease in consumer prices since March. Meanwhile, the trend pointed down mildly, with the annual average variation of consumer prices coming in at minus 0.4% in July (June: -0.3%).

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.6% in 2020, which is unchanged from last month’s forecast. For 2021, panelists pencil in average inflation of 0.2%.


Author:, Economist

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Switzerland Inflation July 20 20

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS).


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