Consumer prices in Switzerland showed zero growth in April compared to the same month in 2024, following a 0.3% increase in March in annual terms, according to the Federal Statistical Office.
The April figure is the lowest since March 2021, and prices also remained unchanged compared to March.
Analysts, whose consensus forecast is provided by Trading Economics, had expected prices to rise by 0.2% year-on-year and month-on-month.
Food and non-alcoholic beverages fell by 0.8% year-on-year in April, clothing and footwear by 0.2%, healthcare services by 0.3% and transport services by 2.6%. Housing and energy rose by 1.4% and communication services by 1%. Prices in restaurants and hotels rose by 1.6%.
Core inflation, which excludes volatile categories such as unprocessed food and energy, slowed to 0.6% from 0.9%.
The Swiss National Bank (SNB) targets inflation at 0-2%. At its March meeting, the SNB lowered its key interest rate by 25 basis points to 0.25% per annum. The SNB holds monetary policy meetings once a quarter, with the next one scheduled for June 19. The Swiss franc rose 0.44% to $1.2148 at 2:00 p.m.
