Switzerland Stays in Deflation For 15th Month
Swiss inflation rate came in at -1.3 percent in January of 2016 for the second consecutive month, in line with market expectations. The inflation rate remained in negative territory for the fifteenth straight month as lower oil prices keep dragging transport and energy cost down.
2/11/2016 10:39:25 AM
Year-on-year, transport prices recorded the biggest drop (-4.6 percent), followed by communication (-2.1 percent), miscellaneous goods and services (-2.1 percent), household equipment and routine maintenance (-1.7 percent), food and non-alcoholic beverages (-1.4 percent), recreation and culture (-1.3 percent) and alcoholic beverages and tobacco (-1.3 percent). Other downward pressure came from housing and energy (-0.6 percent), health (-0.4 percent) and restaurants and hotels (-0.3 percent). Only cost of clothing and footwear (+0.9 percent) and education (+0.9 percent) increased.
On a monthly basis, consumer prices fell 0.4 percent, the same as in the previous month. The highest downward impact came from cost of clothing and footwear (-7.8 percent), followed by transport (-1.1 percent).