Latest data released by the Federal Statistics Office - 4 July 2019
- Prior +0.3%
- CPI +0.6% vs +0.5% y/y expected
- Prior +0.6%
- Core CPI +0.7% vs +0.6% y/y expected
- Prior +0.6%
The good news here is that core inflation rose to its highest level since December 2017. However, it is still a rather large distance away from the SNB's target of 2% inflation.
The recent trajectory has been positive but the SNB won't be able to do much with the data here if the ECB is deciding to ease monetary policy further in the coming months.
