Swiss Consumer Prices Fall for 20th Straight Month


Swiss consumer prices declined by 0.4 percent on the year in June 2016, unchanged from the May rate but beating market expectations of 0.5 percent fall. It was the 20th straight month of deflation, dragged lower by falls in prices of housing, health and transportation while cost of food and recreation and culture rose at a faster pace.

Compared with June 2015, prices of housing and utilities dropped 0.2 percent (from -0.5 percent in May); cost of health declined by 0.3 percent (the same pace as in the previous month); and transport prices went down 2.7 percent (from -2 percent). Additional downward pressure came from: restaurants and hotels (-0.1 percent); miscellaneous goods and services (-1.7 percent); and furnishings and household equipment (-3 percent). By contrast, prices of food and non-alcoholic beverages (+0.6 percent from +0.2 percent in May) and recreation and culture (+2.3 percent from +1.6 percent) increased.

On a monthly basis, consumer prices edged up 0.1 percent percent, the same pace as in the previous month, mainly due to higher prices of housing and utilities (+0.1 percent); food (+1.2 percent) and leisure activities (+0.7 percent); while cost of health and transport showed no growth.

Swiss Consumer Prices Fall for 20th Straight Month


Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/7/2016 9:26:39 AM