Switzerland Inflation

Switzerland

Switzerland: Inflation moderates in June

July 8, 2014

In June, consumer prices fell 0.1% over the previous month, which contrasted both the 0.3% increase observed in May and market expectations of a 0.1% increase. June’s decrease was mainly driven by lower prices for clothing and footwear as well as by cheaper hotel and restaurants bookings.

As a result of the monthly drop, annual headline inflation fell from 0.2% in May to zero in June. May’s reading had represented the highest level in nearly three years. The inflation rate is still well below the Central Bank’s target of 2.0%. Annual average inflation remained unchanged at May’s zero rate in June.
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 June 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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