2019.10.0203:11:00UTC+00Swiss Inflation Weakest In 33 Months

Swiss consumer price inflation eased to the lowest in 33 months in September, data from the Federal Statistical Office showed Wednesday.

Inflation eased to 0.1 percent in September from 0.3 percent in August. Economists had forecast the rate to remain unchanged at 0.3 percent.

Consumer prices have logged annual increase since January 2017 and the latest rise was the weakest in the current sequence of growth.

On a monthly basis, consumer prices dropped unexpectedly by 0.1 percent largely driven by falling holiday packages costs and petrol.

In September, the central bank downgraded its inflation forecast citing weak growth, inflation prospects abroad and the stronger Swiss franc. The SNB forecast 0.4 percent inflation for this year and 0.2 percent for next year.