Navigation

Prices undergo greatest decline in 50 years

Consumer prices in Switzerland have weathered the biggest monthly drop in 50 years, the Federal Statistics Office announced on Friday.

This content was published on June 5, 2009 - 12:23

The overall decline of one per cent for goods bought in May 2009 was more than analysts had expected and has not been matched since September 1959.

While energy prices in May of this year actually increased 1.8 per cent over the previous month, prices for food and non-alcoholic beverages dropped 0.2 per cent.

Household goods slipped 0.2 per cent. Prices at restaurants, hotels and for cultural and recreational activities also dropped by 0.1 per cent, the office said.

Alcoholic drinks, tobacco, health care products and telecommunication costs remained unchanged.

Officials say a drop in oil prices during the last year has contributed significantly to lower prices. The cost of heating oil in May was 48.1 per cent less than the previous year.

Economists say the slip is not a result of deflation as core inflation rose one per cent in May compared with the same period last year.

swissinfo.ch with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?