Switzerland October CPI -0.2% vs -0.1% m/m prior
Latest data released by the Federal Statistics Office - 1 November 2019
- Prior -0.1%
- CPI -0.3% y/y
- Prior +0.1%
- Core CPI +0.2% y/y
- Prior +0.4%
Inflation comes in much softer-than-expected and continues to be a problem for the SNB. Notably, it is the first time since 2016 (more than three years) that the annual headline reading has recorded a negative figure.
With the core reading also ticking lower, it only increases calls for the Swiss central bank to ease further even though they are being pushed to the brink as it stands.