CPI slightly up in Switzerland: +0.3% YoY

GECODIA Team

CPI in Switzerland in April 2011 were only slightly up. Core inflation returned in negative territory.

CPI slightly up in Switzerland: +0.3% YoY
In April 2011, the consumer price index in Switzerland was up by 0.3% YoY, a sharp decline compared to the level of March (+1.1%). The deceleration is explained by a spectacular U-turn in textile prices (+14.9% in March; -0.9% in April). For services, durables goods and non durables goods, inflation was stable. The rise in energy price has moderated, to 7.8% from 8.9%.

Core inflation returned in negative territory, deeply impacted the decline in semi-durable goods, to -0.1% on an annual basis from +0.7%.

Economic Impacts
For a still dovish SNB having headline and core inflation so low are good news. It counterbalances a buoyant labour market and a positive economic outlook.


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