Latest data released by the Federal Statistics Office – 15 July 2019
- Prior 0.0%
- Producer and import prices -1.4% y/y
- Prior -0.8%
Ouch. Despite this being only a proxy indicator of inflationary pressures, it’s still not a positive sign and does not reflect well on the direction inflation is headed towards in the Swiss economy. I reckon the bright side is at least core inflation is still holding up well relative to the trend that we’re seeing in producer prices.