Consumer prices in Switzerland edged down 0.1 percent year-on-year in August of 2016, following a 0.2 percent drop in the previous month and in line with market expectations.
It is the 24th straight month of deflation although prices fell the least since November of 2014. Cost fell less for housing and utilities and grew faster for food and clothing and footwear. Inflation Rate in Switzerland averaged 2.47 percent from 1956 until 2016, reaching an all time high of 11.92 percent in December of 1973 and a record low of -1.40 percent in August of 2015. Inflation Rate in Switzerland is reported by the Swiss Federal Statistical Office.
n annual terms, consumer prices fell 1.4% in August, which came in below the 1.3% drop seen in July and marked the sharpest drop on record. The reading met market expectations. As a result, inflation remains well below the Central Bank’s target of 2.0%.
The Central Bank expects consumer prices to record an annual drop of 1.0% in 2015 and 0.55% in 2016. Panelists polled by FocusEconomics expect consumer prices to fall 1.0% in 2015, which is unchanged from last month’s forecast. For 2016, panelists expect inflation of 0.1%.