Swiss Deflation Slows in February


Swiss consumer prices went down 0.8 percent on the year in February of 2016, easing from 1.3 percent decrease in the previous month while beating market expectations of 1.1 percent fall. It was the smallest drop since February last year, as cost of health, transportation and food declined at a slower pace. On a monthly basis, consumer prices rose 0.2 percent.

Compared with February 2015, cost of health declined by 0.3 percent (from -0.4 percent in January); transport prices went down by 3.4 percent (from -4.6 percent); and cost of food and non-alcoholic beverages dropped 0.4 percent (from -1.4 percent). Additional downward pressure came from: housing and utilities (-0.6 percent); restaurants and hotels (-0.5 percent); recreation and culture (-0.5 percent); and miscellaneous goods and services (-1.5 percent). By contrast, prices of clothing and footwear (+2.3 percent) and education (+0.9 percent) increased.

On a monthly basis, consumer prices rose by 0.2 percent percent in February, following a 0.4 percent drop in the previous month, mainly due to higher prices of housing and utilities (+0.1 percent); transports (+0.1 percent) and food (+0.3 percent); while cost of health showed no growth.

Swiss Deflation Slows in February


Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/8/2016 9:10:29 AM