In June, Switzerland recorded annual inflation of 1.7 per cent, after 2.2 per cent in May. This is the lowest inflation rate in almost a year and a half. Inflation is still mainly driven by the prices of food and soft drinks. Inflation thus returned to the target range of the Swiss Central Bank between zero and two per cent.
This is the weakest growth in the inflation rate since last January, when it was 1.6 per cent, according to data from the Swiss Statistical Office, reported by DPA.
The prices of food and soft drinks contributed the most to inflation in June. On an annual basis, they were more expensive by 5.1 per cent, while in May, they increased by 5.3 per cent.
Housing and energy prices rose by 2.9 per cent in June after a 3.2 per cent increase in May. Every month, inflation was stable.
The core inflation rate, which excludes food, energy and fuel prices, fell to 1.8 per cent in June from 1.9 per cent in May.
Annual inflation in Switzerland decreased to 2.6 per cent in April
Swiss annual inflation fell more than expected in April due to lower fuel costs, data released on Friday showed. However, it is still higher than the central bank’s target.
Consumer prices rose last month by 2.6 per cent year-on-year, up from 2.9 per cent in March, marking the 14th consecutive month that price increases exceeded the Swiss National Bank’s (SNB) target range of between zero and two per cent.
Analysts polled by Reuters had predicted that average annual inflation would fall to 2.8 per cent.
Quick Look: China's industrial output increased by 6.7% in April, signalling stronger future demand for… Read More
Quick Look: Retail sales grew by 2.3% in April, below the forecast of 3.8%. The… Read More
Quick Look: GameStop rose 126%, causing $1.8B in short-seller losses; AMC increased 88%, with $157M… Read More
Quick Look: Coinbase shares fell nearly 8% to $202.49 amid CME's potential entry into spot… Read More
Quick Look: The Senate voted 60-38 to repeal SEC's SAB 121, following a House vote… Read More
Quick Look: EUR/CHF is nearing annual highs with a 17-pip gain today, close to surpassing… Read More