Swiss inflation drops to its lowest level in half a century
Inflation in Switzerland has sunk to its lowest level in over 50 years, according to official statistics published today.
The consumer price index fell to 0.2 per cent in August from July. On an annual basis, the figure has declined 1.4 per cent.
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That figure is lower than at any point since 1959, including the severe drop experienced in 2009 – although it was in line with expectations.
The fall is linked to the increasing strength of the Swiss franc, which has resulted in lower prices for imports but had a negative impact on some exports.
The currency's strength has risen considerably since the start of the year, when the cap was removed for its value against the euro.
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Not all exports have been affected, however, because in many cases they are highly specialised and cannot be imported from anywhere other than Switzerland.