In Switzerland ended a record-long deflation

Consumer prices in Switzerland in December has not changed in annual terms, ending the longest since 1971, the period of deflation in the country, which lasted for 25 consecutive months.

According to the report of the Federal statistical office Swiss consumer prices fell 0.1% compared with November.

Prices calculated in accordance with EU standards, fell by 0.1% in monthly and by 0.2% in annual terms.

The cost of food and non-alcoholic beverages declined in December by 1% compared to November, alcohol and tobacco fell by 0.8%, clothing and footwear by 2%. Meanwhile, prices for services rose 0.1%, including on transport – 0.9%.

We will remind, meanwhile, the Eurozone recorded an acceleration of inflation. So, consumer prices in the Eurozone in December 2016 rose 1.1% in annual terms. Thus, inflation increased sharply, compared with 0.6% in November and was the highest since September 2013.