Switzerland’s consumer prices continued to fall at a steady rate in June, figures from the Federal Statistical Office showed Thursday.
The consumer price index dropped 0.4 percent year-on-year, marking the same size of decline as seen in the previous two months. In March, prices fell 0.9 percent. Economists had forecast a 0.5 percent fall.
Compared to the previous month, the CPI edged up 0.1 percent in June, in line with economists’ expectations. In May, prices rose 0.1 percent.
In June, the statistical office predicted that consumer prices are set to decline for a second consecutive year and expects a 0.4 percent fall for this year.
The agency expects prices to rise 0.3 percent next year. The FSO releases inflation forecasts four times a year. The next projections will be available in September.
The last time Swiss consumer prices rose on a year-on-year basis was in August 2014.
The material has been provided by InstaForex Company – www.instaforex.com