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Written by ICN.com |
Jun 07 12 07:43 GMT
Switzerland Deflation Continues To Weigh Negatively On The Economy
Switzerland released the consumer price index figures for May, where deflation remained the scenario for Switzerland adding more downside pressures on Growth and spending levels remain low.
Inflation slowed over monthly basis to stall in May after expanding by 0.1% in April as expected, while over annual comparison the index dropped in line with the previous and the expected 1.0%.
The EU harmonised CPI monthly index dropped by 0.2% from the previous flat index, while the annual index dropped in line with the prior of 1.1%.
The drop in inflation was led by the drop in household goods and furniture, which dropped by 0.8% from the previous drop of 0.1%, while housing and utilities prices dropped by 0.3% and finally prices of clothing and shoes slowed to 1.6% from the previous of 3.0%.
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