Swiss consumer price growth came to a standstill in April, with headline CPI unchanged month-on-month for a second consecutive month.
On an annual basis, inflation slowed sharply from 0.3% yoy to 0.0% yoy, marking a return to flat price levels not seen since the disinflationary spell of early 2021.
Core CPI (excluding fresh and seasonal products, energy and fuel) also lost momentum, easing from 0.9% yoy to 0.6% yoy.
The softness in inflation was driven by a decline in domestic product prices, which fell -0.1% mom and decelerated from 1.0% yoy to 0.8% yoy. Meanwhile, imported product prices offered a small offset, rising 0.3% mom but still contracting -2.5% yoy (prior -1.7% yoy).
