Swiss CPI rose 0.2% mom 0.7% yoy in April, matched expectations. Core CPI rose 0.3% mom, 0.5% yoy. The 0.2% mom increase in headline CPI compared with the previous month can be explained by several factors including rising prices for fuel and for air transport. In contrast, prices for hotel accommodation, glasses and contact lenses decreased.
Swiss SECO consumer confidence dropped to -6 in April, down from -4 and missed expectation of -3. SECO noted that: “Swiss consumer sentiment has worsened slightly. The index now comes in only just above average. The labour market has still been assessed positively. However, the likelihood of consumers making major purchases remains low.
