Latest data released by the Federal Statistics Office - 3 June 2019
- Prior +0.2%
- CPI +0.6% vs +0.6% y/y expected
- Prior +0.7%
- Core CPI +0.6% y/y
- Prior +0.5%
The headline readings are in-line with expectations but the tick higher in the core reading will be more than welcome by the SNB. That said, it's still nowhere near approaching the 2% level and that tells you all you need to know about how much work still needs to be done before the central bank can even consider normalising policy.
