03.08.201803:33:00UTC+00Swiss Inflation Accelerates In July

Switzerland's consumer price inflation continued to rise in July, the Federal Statistical Office reported Friday.

Consumer price inflation rose to 1.2 percent in July from 1.1 percent in June. The rate came in line with expectations.

On a monthly basis, consumer prices dropped 0.2 percent after staying flat a month ago. Prices were forecast to fall 0.3 percent. Clothing and footwear declined due to seasonal factors and cost of airfares also dropped.

In June, the central bank lifted its inflation forecast for 2018 to 0.9 percent from 0.6 percent, citing a marked rise in oil prices.