Swiss Inflation Rate Flat in July

In July, Swiss consumer prices were unchanged from a year earlier, compared with annual rates of -0.1 percent in June and of -0.7 percent in July of 2012. Higher prices for oil products and food were offset by declines in clothing and communications.

The biggest downward pressures on the national index came from clothing and footwear (-2.7 percent) and communications (-2.6 percent). Major downward pressures came also from: household equipment and routine household maintenance (-0.9 percent), health care (-0.9 percent), leisure and culture (-0.7 percent) and transportation (-0.3 percent).

The biggest price rises were registered in food and non-alcoholic beverages (+2.0 percent), education (+1.5 percent), oil products (+1.3 percent), alcoholic beverages and tobacco (+1.0 percent), restaurants and hotels (+0.9 percent).

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

Swiss Inflation Rate Flat in July

Nuno Fontes |
8/7/2013 8:57:05 AM