Switzerland Inflation Rate at 56-Year Low in July


Consumer prices in Switzerland decreased 1.3 percent year-on-year in July 2015, following a 1 percent drop in the previous month, mainly due to lower cost of housing, health, transport and food. It was the lowest value since July of 1959.

Compared to July 2014, housing and energy prices fell 0.5 percent (-0.4 percent in May); health cost declined by 0.5 percent (-0.4 percent in May); transport prices decreased by 4.8 percent ( -3.7 percent in May); and food cost dropped 1.5 percent (-0.8 percent in May). Additional downward pressures came from: furnishings and household equipment (-2.5 percent); recreation and culture (-2.3 percent); and miscellaneous goods and services (-1 percent). In contrast, education cost went up 1.2 percent and restaurants and hotels prices grew 0.2 percent.

On a monthly basis, consumer prices declined by 0.6 percent in July, reaching its lowest level since October 2007, mainly due to lower prices of clothing and footwear (-8.3 percent); furniture and household services (-1.4 percent); and transportation (-0.9 percent). Meanwhile, ony alcoholic beverages and tobacco cost increased (+0.7 percent).

Switzerland Inflation Rate at 56-Year Low in July


Swiss Federal Statistical Office | joana.ferreira@tradingeconomics.com
8/5/2015 11:25:44 AM