Swiss Consumer Prices Continue To Fall

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Switzerland’s consumer prices continued to drop in March, the Federal Statistical Office reported Thursday.

Consumer prices dropped 0.2 percent year-on-year but slower than the 0.5 percent fall in February. Economists had forecast an annual decrease of 0.3 percent.

On a monthly basis, consumer prices rose 0.3 percent following a 0.2 percent increase in February. Prices are expected to climb 0.4 percent.

The central bank forecasts consumer prices to rise 0.2 percent in 2021.

Another report from the statistical office showed that retail sales decreased for the second straight month in February.

Retail sales declined 5.2 percent on month in February, slower than the 6.4 percent fall in January.

On a yearly basis, retail sales were down 6.3 percent after easing 0.7 percent in January. Excluding service stations, retail sales decreased 6.2 percent.

Sales of food, drinks and tobacco grew 7.2 percent, while non-food sector sales slid 19.9 percent annually.

The material has been provided by InstaForex Company – www.instaforex.com

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