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Financial News: Swiss Inflation Steady At 0.3%

Swiss Inflation Steady At 0.3%

09/03/2019 - 06:13:00 (RTTNews)

(RTTNews) - Switzerland consumer prices logged a steady growth in August, data from the Federal Statistical Office showed Tuesday.

Consumer price inflation came in at 0.3 percent in August, the same rate as seen in July and in line with expectations. A similar lower rate was last seen in July 2017.

On a monthly basis, consumer prices remained flat after falling 0.5 percent a month ago. Economists had forecast a 0.1 percent drop for August.

The statistical office said decreases in airfares and international package holidays prices offset the increases in costs of clothing, footwear and housing rentals.

Core consumer prices remained flat on month but increased 0.4 percent annually in August.

The Swiss National Bank forecast 0.6 percent inflation for this year and 0.7 percent for 2020.

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