Switzerland's annual inflation rate inched down to 0.6 percent in May 2019 from 0.7 percent in the previous month, matching market expectations. This was the lowest inflation rate since February, as transport and food prices rose at softer rates while housing inflation was unchanged.
Inflation slowed for: transportation (1.2 percent vs 1.4 percent in April); food and non-alcoholic beverages (0.2 percent vs 1.2 percent); and restaurants and hotels (0.4 percent vs 0.9 percent). In addition, housing and energy inflation was steady (at 0.6 percent), while recreation and culture prices were unchanged (vs -0.2 percent in April).
Health prices, which account for 15 percent of the CPI, rose 0.3 percent in May, the third straight month of annual gain, following a 0.2 percent increase in the previous month. Also, miscellaneous goods and services prices rebounded (0.7 percent vs -0.4 percent).
Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged up to 0.6 percent in May from 0.5 percent in the prior month.
On a monthly basis, consumer prices went up 0.3 percent in May, following a 0.2 percent increase in April and matching market consensus, mainly due to higher prices for fuel and package travel abroad. On the other hand, prices for hotel accommodation and books fell.
6/3/2019 12:28:01 PM