Swiss Inflation Rate Up to -0.5% in May

In May, Swiss consumer prices fell 0.5 percent yoy. Prices fell at a slightly slower pace compared with annualised rates of -0.6 percent in April 2013 and of -1.0 percent in May 2012.

The decline in the national index was mainly due to the fall in clothing and footwear (-4.5 percent) and communications (-2.7 percent). Major downward pressures came also from: transportation (-1.8 percent), household equipment and routine household maintenance (-1.4 percent) health (-0.9 percent) and fuels (-0.2 percent).

The biggest upward pressures came from: education (+1.5 percent), alcoholic beverages and tobacco (+1.2 percent), food and non-alcoholic beverages (+0.8 percent), restaurants and hotels (+0.6 percent) and recreation and culture (+0.3 percent).

Core inflation, which strips out more volatile components like food and beverages, seasonal products, energy and fuel, fell 0.4 percent in May. 

Swiss Inflation Rate Up to -0.5% in May

FSO | Nuno Fontes |
6/6/2013 9:23:34 AM