- Prior +0.2%
- CPI M/M -0.3% vs -0.2% expected
- Prior -0.2%
- Core CPI Y/Y +0.5% vs +0.7% prior
- Full report here
We have misses across the board here. The agency notes: "the 0.3% decrease compared with the previous month is due to several factors including lower prices for hotels and international package holidays. The hire of private means of transport also recorded a price decrease. In contrast, clothing and footwear recorded a price increase, as did housing maintenance and caretaking."
The data shouldn't matter much as the SNB has already ended its easing cycle and will need strong reasons to go back into NIRP (negative interest rate policy).
SNB's Chairman Schlegel recently said that they expect inflation to pick up a little in the next quarters. The latest SNB forecasts is for inflation to average 0.4% in Q4.
