Switzerland Deflation Deepens in May


Consumer prices in Switzerland dropped 1.2 percent year-on-year in May 2015, following a 1.1 percent fall in the previous month. It was the lowest figure since July 2009 as both transport cost and furnishings and household equipment prices fell.

Compared to May 2014, the biggest price decreases were reported for: transport cost (-4.5 percent); and furnishings and household equipment (-2.5 percent). Additional downward pressures came from: recreation and culture (-2.4 percent); food and nonalcoholic beverages (-1.2 percent); and miscellaneous goods and services (-1.0 percent). In contrast, education cost went up 1.2 percent and alcoholic beverages and tobacco prices grew 0.1 percent.

On a monthly basis, consumer prices increased 0.2 percent in May, after dropping 0.2 percent in the previous month, mainly due to higher cost of clothing and footwear (+0.9 percent) and alcoholic beverages and tobacco (+0.5 percent). While furnishings and household equipment cost fell 0.7 percent and recreation and culture prices declined 0.3 percent. 

Switzerland Deflation Deepens in May


Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/9/2015 8:55:53 AM