The last time inflation in Switzerland was negative a little four years ago – in March 2021.
Consumer prices in Switzerland in May decreased by 0.1% compared to the same month of last year. This was reported by the country’s Federal Statistical Administration on Tuesday, June 3.
The deflection has been recorded for the first time since March 2021.
Last month, prices of transportation services in the country were reduced by 3.7%, home services and services fell 2.6%, food and soft drinks – by 0.3%. At the same time, alcohol and tobacco prices rose 1.6%, services of restaurants and hotels climbed 1.3%, energy equipment and sources – by 1.1%.
The main inflation, which does not consider the cost of fresh food and energy sources, slowed in May up to 0.5% in the annual terms from April 0.6%.
Compared to last month, consumer prices in Switzerland increased 0.1% after zero change in April.
Deflection is considered dangerous for the country’s economic development: the cost of money is growing, reducing consumer activity and investment. People have eliminated costs, hoping for further collapse in prices, launching an economic “spiral down”.
Remember that the Fitch Ratings International Agency has gathered a new forecast for Ukraine. The restoration of the Ukrainian economy slowed down: last year, the real GDP grew 2.9%.
The “hole” formed on the Ukraine budget. How is it “patch up” to him
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.