Swiss Annual Inflation Slows In May

Switzerland's consumer price annual inflation slowed to 1.1% in May from 1.4% in April, the Federal Statistical Office reported. A year ago, consumer prices were down 1%.

Month-on-month, consumer prices dropped 0.1% in May, while economists were expecting it to stay flat.

Prices of food and non-alcoholic beverages slipped 1.1% year-on-year, while alcoholic beverages and tobacco prices rose 2.2%. Clothing and footwear cost increased 1.3%. Increase in housing and energy was 3.2% and transportation gained 4.1%.

Separately, the State Secretariat for Economic Affairs said the risk of inflation is expected to remain low. SECO forecast consumer price inflation to reach 1.1% in 2010, before slowing to 0.8% in 2011.

Swiss Annual Inflation Slows In May, RTT News
6/8/2010 12:03:24 PM