Switzerland: Consumer prices unchanged over the same month last year
August 6, 2014
In July, consumer prices fell 0.4% over the previous month. The reading followed the 0.1% decrease observed in June and was in line with market expectations. July’s decrease mainly was driven by lower prices for clothing and footwear, as well as by lower prices for housing.
Consumer prices were unchanged in July over the same month last year, which mirrored a similar subdued reading in June. The inflation rate is still well below the Central Bank’s target of 2.0%. Annual average inflation remained unchanged at June’s zero rate in July.
Author: Ricardo Aceves, Senior Economist