Latest data released by the Federal Statistical Office - 4 June 2020
- Prior -1.1%
- Core CPI -0.6% vs -0.6% y/y expected
- Prior -0.5%
Swiss inflation slumped further into deflation territory in May, amid the fallout from the virus outbreak with the core reading seen at its weakest since January 2016.
If anything, this will continue to give more incentive to the SNB to keep intervening in the currencies market to prevent the franc from appreciating too significantly.
