Data out this morning show that consumer prices in Switzerland fell 0.3 per cent during the month of December, one of the biggest M/M falls of the last 3 years, dragging the annualised rate down to just a 0.7 per cent increase. This suggests price rises peaked at 1.2 per cent in August, a level that has capped most of the time since 2009. Worth noting also that since 1994 Swiss CPI has printed over 2 per cent only briefly in 2008.
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