Switzerland’s CPI inflation eases to 1.3% in June

Annual consumer price inflation in Switzerland has eased to 1.3% in June from a four-month high of 1.4% in May, the latest data by the Swiss Federal Statistical Office showed.

In June, prices continued to fall for clothing & footwear (-2% YoY versus -1.1% YoY in May) and for household goods & services (-2.5% YoY versus -0.9% YoY in May).

Last month, inflation moderated for restaurants & hotels (1.9% YoY versus 2% YoY in May) and for other goods & services (0.9% YoY versus 1% YoY in May).

Conversely, price increase accelerated for alcoholic beverages & tobacco (0.8% YoY versus 0.2% YoY in May), communications (0.6% YoY versus 0.4% YoY in May) and for recreation & culture (3.2% YoY versus 2.1% YoY in May).

And, inflation remained steady for housing & utilities, at 3.8%, and for transport, at 0.7%.

The nation’s annual core inflation rate, which excludes volatile categories such as unprocessed food and energy, has also eased, to 1.1% in June from 1.2% in May.

In monthly terms, consumer prices in the country remained flat in June, after a 0.3% increase in May.

The Swiss Franc was little changed on the day against the US Dollar, with the USD/CHF currency pair last trading at 0.9005.

The major Forex pair has pulled back from a one-month high of 0.9050, which it registered on July 3rd.