Switzerland Inflation


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.

The Central Bank expects inflation to average 0.1% in 2014. For 2015, the Bank expects inflation to rise to 0.3%. Panelists polled by FocusEconomics see inflation at 0.2% in 2014, which is unchanged from last month’s forecast. For 2015, panelists expect inflation to rise to 0.8%.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation July 2014

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

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