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