Switzerland’s consumer prices dropped for the eleventh consecutive month in September, logging the biggest annual decline since 1959, the Federal Statistical Office said Tuesday.
Consumer prices fell 1.4 percent year-on-year in September, the same rate of decline as seen in August. Economists had forecast prices to drop 1.5 percent.
The Swiss National Bank estimated inflation to be at -1.2 percent this year.
The 1.4 percent decline was the biggest since July 1959, when the index logged a similar decrease. A larger fall was registered in July 1950, when prices tumbled 1.9 percent.
Month-on-month, consumer prices gained 0.1 percent, reversing a 0.2 percent drop a month ago. It increased after falling for two straight months. Economists had forecast prices to remain flat.
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