Swiss Deflation Lowest in 16-Months


Consumer prices in Switzerland fell 0.4 percent year-on-year in April of 2016, following a 0.9 percent decrease in the previous month and compared to market expectations of a 0.6 percent decline. It is the lowest drop since December of 2014 as cost of food and recreation and culture rebounded, prices of clothing accelerated and energy and transport fell at a slower pace due to higher oil prices.

Year-on-year, cost of housing and energy (-0.5 percent in April from -0.7 percent in March), health (-0.3 percent from -0.4 percent) and transport (-1.4 percent from -3.1 percent) fell at a pace. In addition, cost of food and non-alcoholic beverages (up 0.1 percent from -0.1 percent in March) and recreation and culture (up 0.8 percent from -0.6 percent) rebounded and prices of clothing and footwear (up 3 percent from 1.1 percent in March) accelerated. 

On a monthly basis, consumer prices increased 0.3 percent, the same as in the previous month and higher than market expectations of 0.1 percent. Biggest upward pressure came from cost of clothing and footwear (up 4.4 percent) due to the arrival of summer season, recreation and culture (up 1.3 percent) and transport (up 0.5 percent) mainly due to oil. 

Swiss Deflation Lowest in 16-Months


Swiss Federal Statistical Office | Joana Taborda | joana.taborda@tradingeconomics.com
5/9/2016 9:21:14 AM