Prices continue to fall

Swiss consumer prices fell by 0.7 per cent in July compared with the previous month and reached 103 points, about the same as in December 2005.

This content was published on August 4, 2009 - 11:39

Announcing the figures on Tuesday, the Federal Statistics Office said year-on-year inflation fell by 1.2 per cent compared with an also receding annual rate of one per cent in June 2009. In July 2008 the annual inflation rate was still 3.1 per cent.

The government said the consumer price index (CPI) drop in July was caused by the sales prices of summer clothes and shoes, the index of which plummeted by 10.7 per cent.

The cost of home furniture, energy, food, leisure activities and cultural outings also dropped, but not by more than one percent.

The price of alcohol and tobacco, in addition to hygiene and communication rose slightly.

The cost of travelling, restaurants and hotels stayed stable. and agencies

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