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Swiss CPI rose to 0.7% yoy in Jul, retail sales rose 0.1% yoy in Jun

Swiss CPI came in at -0.1% mom, 0.7% yoy in July, matched expectations. That compared to June’s reading of 0.1% mom, 0.6% yoy. Retail sales rose 0.1% yoy mom in real term in June, well below expectation of 3.4% yoy. Sales excluding service stations dropped -0.5% yoy. Food, drinks and tobacco dropped -2.1% yoy. Non-food sector rose 1.2% yoy.

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