Switzerland’s consumer prices declined for the second month in a row in March, the Federal Statistical Office reported Thursday.
Consumer prices dropped 0.5 percent year-on-year in March, following a 0.1 percent fall in February. This was in line with economists’ expectation.
On a monthly basis, consumer prices rose 0.1 percent in March, same as seen in February. This was in line with economists’ expectation.
Prices for clothing and footwear rose due to the end of the seasonal sales in March and prices for new cars also increase. In contrast, prices for heating oil and fuels decreased, the agency reported.
The core CPI fell 0.1 percent annually in March and rose 0.3 percent from the previous month.
The EU measure of harmonized index of consumer prices rose 0.1 percent monthly in March and fell 0.4 percent from the previous year.
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