Swiss inflation cooled further in October, with headline CPI slipping -0.3% mom — weaker than expectations of -0.1% mom. Annual inflation eased to just 0.1% yoy from 0.2% yoy, undershooting forecasts of 0.3% yoy. The data confirmed that price pressures remain virtually absent.
Core inflation also weakened notably, falling -0.2% mom and slowing to 0.5% yoy from 0.7% yoy. Both domestic and imported prices fell during the month, by -0.2% mom and -0.5% mom respectively, suggesting broad-based softness. The sharper decline in imported prices reflects the strong franc’s continued dampening effect on imported goods and energy costs, while domestic components also showed only marginal resilience.
