Latest data released by the Federal Statistics Office - 1 April 2021

  • Prior -0.5%
  • Core CPI -0.4% vs -0.2% y/y expected
  • Prior -0.3%

The readings are weaker than expected and after you strip out energy and base effects, the core reading is also weaker than it was in February. This just reaffirms the current SNB policy stance and there is little need to change that.