Swiss Inflation Rate Unchanged at 0.6%
Switzerland's annual inflation stood at 0.6 percent in June 2019, unchanged from the previous month's three-month low and slightly above market expectations of 0.5 percent. Cost of transport, housing, food, and health rose at softer pace, while restaurants and hotels inflation accelerated.
7/4/2019 10:54:06 AM
Inflation eased for housing and energy (0.3 percent vs 0.6 percent in May); health (0.1 percent vs 0.3 percent); transportation (1.0 percent vs 1.2 percent); food and non-alcoholic beverages (0.1 percent vs 0.2 percent). Meantime, recreation and culture prices were unchanged for the second straight month and miscellaneous goods and services inflation was flat at 0.7 percent.
On the other hand, prices rose at faster pace for restaurants and hotels (0.7 percent vs 0.4 percent), household equipment and maintenance (1.9 percent vs 1.8 percent), and clothing and footwear (3.5 percent vs 2.3 percent).
Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged up to 0.7 percent in June, the highest since December 2017, from 0.6 percent in the prior month.
On a monthly basis, consumer prices were flat in June, after a 0.3 percent advance in May and compared to market consensus of a 0.1 percent fall, as an increase in prices for international package holidays and fruiting vegetables offset a decline in cost for heating oil and stone fruit.