Swiss consumer prices tick 0.1% down last month

Thursday, 05. January 2017 09:47

Inflation in Switzerland came in flat in December against the same month of last year, recovering from the previous month's reading of 0.3% below the neutral level. Consumer prices decreased 0.1% from the previous month alone, following a drop of 0.2% in November. The Federal Statistical Office said on Thursday that the average annualized rate of the benchmark was 0.4% in negative territory for the whole of last year, mostly due to declines in the segments of petroleum products and motor vehicles.

Prices of domestic goods were unchanged on the month, the same as in the last report, and 0.2% higher on an annual scale, or 0.1 percentage points more than in November. Imported merchandise was 0.3% cheaper overall than one month before, compared to a fall of 0.7% in the previous update. Goods from overseas saw retail value drop 0.6% from 12 months before, following a plunge of 1.5%.

The franc lost 0.14% against the euro and edged 0.07% up compared to the dollar. The Swiss currency strengthened 0.41% versus the pound (all 9:45 a.m. CET). The SMI stock index in Zurich moved 0.12% to the green at 9:32 a.m. CET.


Image: EPA / Erik S. Lesser

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