Switzerland April CPI +0.2% vs +0.2% m/m expected

Latest data released by the Federal Statistics Office - 3 May 2019

• Prior +0.5%
• CPI +0.7% vs +0.7% y/y expected
• Prior +0.7%

• Core CPI +0.5% vs +0.5% y/y expected
• Prior +0.5%

All readings are in-line with expectations and the notable thing here is that the core inflation reading is seen holding steady at +0.5% y/y. Hence, no change to the current inflation outlook for the Swiss economy, which means that the SNB will still struggle to justify any policy normalisation efforts for the time being.