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Swiss CPI slips in July as energy and transport costs ease
The Swiss Federal Statistical Office said imported product prices fell 1.1% month over month in July, helping pull annual inflation to 0.4% from 0.5% in June.
Switzerland’s consumer price inflation cooled in July, with the CPI down 0.1% month over month and annual inflation easing to 0.4% from 0.5% in June, according to the Federal Statistical Office, as covered by Action Forex.
The slowdown was driven mainly by lower prices for air transport, diesel, and petrol, along with seasonal discounts that pushed down clothing and footwear costs.
A broader look at the data showed that imported product prices dropped 1.1% month over month in July, compared with a 0.4% decline in June, leaving annual imported inflation at 0.0% year over year.
While core inflation was unchanged at 0.3% year over year after a 0.1% month over month decline, some categories rose during the month, including other parahotel accommodation, heating oil, car rental, and car sharing, partially offsetting declines elsewhere.