Swiss Inflation Rate Rises to -0.1% in June

In June, Swiss consumer prices decreased 0.1 percent yoy, a slower fall compared with annual rates of -0.5 percent in May and of -1.1 percent in June of 2012. Higher prices for oil products, fruits and vegetables offset the first sales for clothing and shoes.

The decline in the national index was mainly due to the fall in clothing and footwear (-2.8 percent) and communications (-2.6 percent). Major downward pressures came also from: household equipment and routine household maintenance (-1.9 percent) health (-1.0 percent) and transportation (-0.3 percent).

The biggest price rise were registered in education (+1.5 percent), alcoholic beverages and tobacco (+1.1 percent), food and non-alcoholic beverages (+1.0 percent), restaurants and hotels (+0.8 percent) and fuels (+0.2 percent). Despite the small increase in fuel prices, it provided the biggest upward pressure due to its overall weight on the index.

Core inflation, which strips out more volatile components like food and beverages, seasonal products, energy and fuel, was -0.2 percent in June.

Swiss Inflation Rate Rises to -0.1% in June

Nuno Fontes |
7/5/2013 9:07:34 AM