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Consumer prices fall sharply in August

Inflation has fallen for the third month running

(Keystone Archive)

Switzerland's consumer price index fell by 0.6 per cent in August, compared to July, in the strongest decline since May 1994, according to figures released on Friday by the Federal Statistics Office in Neuchâtel.

Annual inflation fell for the third month running. It now stands at 1.1 per cent, compared with 1.4 per cent in July after reaching a peak of 1.8 per cent in May.

The office said lower sales prices for clothing and footwear led to the decline. In August they were 10.3 per cent cheaper. Other reference groups in the index posted much lower reductions.

Lower import prices were also responsible for the decline, the office added.

swissinfo with agencies


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