Inflation & Prices
Swiss Underlying Inflation Gauge Slows Below SNB 2% Ceiling
- Core price measure shows 1.9% increase from a year earlier
- These are last inflation data before SNB decision on June 22
A measure of underlying inflation in Switzerland slowed more than expected to below the central bank’s ceiling, giving comfort to officials trying to ensure consumer prices stay under control.
The so-called core gauge, which strips out volatile elements like energy and food, fell to 1.9% in May, down from 2.2% the previous month. Headline inflation also slowed markedly, coming in at 2.2%, matching the median estimate in a Bloomberg survey.