Switzerland: Inflation remains flat in April
May 8, 2014
Consumer prices rose 0.1% over the previous month in April. The reading came in below the 0.4% rise registered in March and was on par with market expectations. April's increase reflected that higher prices for clothing and footwear as well as for transport more than offset lower prices for food and non-alcoholic beverages.
Consumer prices were unchanged over the same month last year in April. The figure mirrored the flat reading recorded in March. The inflation rate remains well below the Bank's 2.0% target. Annual average variation in consumer prices was unchanged at minus 0.1% in April.
The Central Bank expects inflation to remain flat in 2014. For 2015, the Bank expects inflation to rise to 0.4%. Panelists polled by FocusEconomics see inflation at 0.3% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, panelists expect inflation to rise to 0.9%.
Author: Ricardo Aceves, Senior Economist