2019.08.0203:01:00UTC+00Swiss Inflation Eases More Than Expected

Switzerland's consumer price inflation eased more than expected in July, figures from the Federal Statistical Office showed Friday.

Consumer prices climbed 0.3 percent year-on-year, following a 0.6 percent rise in June. Inflation was forecast to slow moderately to 0.5 percent.

On a monthly basis, consumer prices fell 0.5 percent in July after staying flat a month ago. Prices were expected to drop 0.4 percent.

The monthly decline was largely driven by falling prices of clothing and footwear, cost of holiday packages and air transport.

The Swiss National Bank forecast 0.6 percent inflation for 2019 and 0.7 percent in 2020.