Swiss consumer price index dropped as expected in August

Swiss consumer price index dropped as expected in August

  • Swiss consumer price  In August, the consumer price index eased 0.10% in Switzerland on a monthly basis, compared to a drop of 0.40% in the previous month. Markets were anticipating the consumer price index to ease 0.10%.
  • A similar pace of slower decrease was last seen in November 2014. Prices have been falling since late 2014. Consumer prices dropped 0.1 percent as expected in August from the prior month, when it declined 0.4 percent.
  • Further, this is up from a 0.5 percent drop in July and the first non-negative reading since the Swiss National Bank scrapped its currency cap in January 2015. However, the national reading is still negative, just, but only at -0.1 percent on the month and year, the least negative reading since November 2014

Swiss consumer price Switzerland Inflation Rate

Swiss consumer price index dropped as expected in August

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.

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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%.

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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%.


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